Toyota to Invest $912 Million In US The investments are expected to create 252 new jobs in US
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Toyota Motor announced plans to invest $912 million in U.S. manufacturing plants in five Southern states. This was part of a previously announced plan for the company to invest up to $10 billion domestically by 2030. The largest investment is $453 million in Toyota's Buffalo, West Virginia, plant.
The investments will support increasing production of hybrid vehicles and most of it is expected to be completed by 2027. Other investments include $204.4 million in a plant in Georgetown, Kentucky, for four-cylinder hybrid-compatible engines and $125 million to expand Corolla production in Blue Springs, Mississippi.
Currently, Toyota assembles about half of the vehicles it sells in the U.S., with North American manufacturing facilities assembling more than three-quarters (76 percent) of the vehicles it sells in the U.S.
"Customers are embracing Toyota's hybrid vehicles, and our U.S. manufacturing teams are gearing up to meet that growing demand. Toyota's philosophy is to build where we sell, and by adding more American jobs and investing across our U.S. footprint, we continue to stay true to that philosophy," said Kevin Voelkel, Toyota Motor North America senior vice president of manufacturing operations, said in a statement.
The announcement comes close to he heels of confirmed plans that were announced last month and the investments are expected to create 252 new jobs.
The entire automotive industry have been navigating production plans amid regulatory changes impacting all-electric vehicles and Trump's tariffs this year on new vehicles and auto parts.
