Toyota investing $749 million in five U.S. plants

by SpeedLux
Images of 2017 toyota tacoma trd pro

Toyota Motor stated on Thursday it is going to invest $749 million in five U.S. plants and add 586 jobs as it increases engine production capacity and adds new hybrid models to its lineup.

President Donald Trump has prodded Japanese automakers to bring more jobs in the United States as the White House has threatened to enforce tariffs of up to 25 percent on imported vehicles, on the grounds of national security.

“All this activity I hope shows that we’re a plus factor to the economic national security of the United States,” stated Jim Lentz, Cheif Executive of Toyota North America, in an interview with reporters on a conference call. “We believe in America.”

Other automakers have also lobbied heavily to block any new tariffs on imported automobiles.

Toyota stated it will invest $288 million in Alabama to boost annual engine capacity from 670,000 to 900,000 by the end of 2021 and will add new 4-cylinder and V6 engine lines. It is also going to invest $238 million in a Kentucky plant to construct hybrid versions of the Toyota RAV4 and Lexus ES 300h.

Toyota announced in 2018 that it would jointly construct a new $1.6 billion plant with Mazda Motor in Alabama.

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