Toyota to spend US$750m for US plant upgrade
Friday, March 15, 2019
Toyota Motor has announced it will newly invest US$750 million to boost its production capacity in the United States.
The Japanese automaker says it will increase the capacity of its Kentucky plant to, for the first time, produce hybrid versions of its high-end Lexus ES models and the RAV4 sport utility vehicle, NHK reports. The firm also plans to ramp up output at other plants producing engines, transaxles and other parts.
Toyota says the latest investment means it will be spending nearly US$13 billion on its US operations by 2021.
In 2017, the carmaker announced a US$10 billion investment plan.
Associated Press reported that the latest investments are at facilities in Alabama, Kentucky, Missouri, Tennessee and West Virginia. Those same facilities were part of a 2017 announcement by Toyota for a US$374 million investment to support production of its first American-made hybrid powertrain.