Toyota boosts U.S. investments to $13B by 2021, adds about 600 jobs

Galtero Lara
Marcha 15, 2019

It builds on capacity that was first announced two years ago.

The Lexus ES 300h hybrid will begin production in May with an annual capacity of 12,000 vehicles.

The plan is to start ramping up production in 2020. Mitch McConnell, R-Kentucky, said in prepared remarks. The first Camry came off the line in May 1988, and in 2016, the operation celebrated its 30-year anniversary since ground was broken at the site.

Gov. Matt Bevin praised the announcement, saying, "To see this progress, to have a partner like Toyota, to be able to have somebody that is as truly as fine a corporate citizen of the world - and I mean this with respect to every other company, many of whom are here - I cannot think of a finer. corporate citizen as Toyota has been, at every turn, in every community, how blessed we are to have you". The jobs are not coming to the WSAZ region, but the company is investing $238 million in the Georgetown plant.

The plant has expanded several times since it went online in 2001.

Toyota announced Thursday that it will add 450 new jobs in Huntsville and exceed its 2017 pledge to invest $10 billion over five years with a new commitment to reach almost $13 billion over the same period.

The investment that was being announced Thursday morning is valued at $111 million and means hiring 123 new employees, the officials said.

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"So this new announcement is for a new 4-cylinder and a V6 engine line", said David Fernandes, Huntsville Plant President.

Toyota leaders say they plan to boost production of the RAV4 Hybrid in January of 2020 with a capacity of about 100,000 units per year.

$50 million to expand and upgrade equipment at a Bodine plant in Jackson, Tenn.

In hybrid vehicles, the transaxle takes the place of conventional transmission.

Last month, the U.S. Commerce Department sent a "Section 232" national security report to Trump with recommendations that auto industry officials expect to include at least some tariffs on fully assembled vehicles or on technologies and components related to electric, automated, connected and shared vehicles.

Toyota Motor North America executive Chris Reynolds said the investments represent yet more examples of the company's long-term commitment to build where it sells, irrespective of trade uncertainty due to tariffs.

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