Toyota ups investment in US plants to $13 billion, adds 600 manufacturing jobs


Japanese automaker Toyota is upping its investment in the US by 30 percent to $13 billion by 2021, the company said Thursday.

The company pledged in 2017 to invest $10 billion in its U.S. factories over five years.

The new plan includes adding 600 jobs at U.S. manufacturing plants, the company said. It said it plans to increase production capacity and renovate factories in Huntsville, Alabama; Buffalo, West Virginia; Troy, Missouri; and Jackson, Tennessee.

Part of the plan includes ramping up production of fuel-efficient vehicles. Toyota said it will produce hybrid versions of the RAV4 crossover and Lexus ES luxury sedan in Kentucky for the first time.

This is a breaking news story. Please check back for updates.

Products You May Like

Articles You May Like

Billionaire Kenneth Griffin: The Power of Capitalism, Financial Markets and Competitiveness (2019)

Leave a Reply

Your email address will not be published. Required fields are marked *