Toyota Motor is going to invest $170 million in a plant in Mississippi to develop the next generation of its Corolla sedan, the Japanese automaker stated on Thursday.
The investment will result in the creation of 400 jobs during the next 12 months at Toyota’s Blue Springs, Mississippi, plant.
Toyota stated the investment will involve replacement of the current production lines, allowing the facility to produce advanced vehicles more accurately and better adapt to changing market needs.
The move is part of a commitment made by the automaker in last year to spend $10 billion in its U.S. manufacturing operations during the next five years.
Contrary to U.S. automakers General Motors, Ford Motor and Fiat Chrysler Automobiles – which are returning back from passenger vehicles as American consumers abandon them in support of higher-margin, more comfortable pickup trucks, SUVs and crossovers – Toyota, Honda Motor and Nissan Motor have all invested largely in all-new versions of their sedan models.
