Published: Fri, March 15, 2019
Markets | By Noel Gibbs

Toyota Announced a $13 Billion Investment in the U.S.

Toyota Announced a $13 Billion Investment in the U.S.

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.

Jim Justice said the investment is a big boost for the Mountain State.

Toyota's latest announcement is an add-on to a plan first announced in 2017. I couldn't be prouder of the work they do or more excited that Toyota is expanding their next generation hybrid transaxle production capabilities in our state.

The plant was built as Toyota's first "wholly-owned vehicle manufacturing plant" in the United States.

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Toyota Motor Corp. on Thursday announced it is investing an additional $750 million at five US plants that will bring almost 600 new jobs, including the production of two hybrid vehicles for the first time at its Kentucky facility.

One of the announcements will directly impact the WSAZ viewing area, creating more than 100 new jobs.

$288 million for increasing annual engine capacity at Toyota's Huntsville, Ala., facility.

$111 million for equipment and expansion of a plant in Buffalo, W. Va., to double the capacity of hybrid transaxles. The senator said 230 employers will be represented at the job fair from 11 a.m.to 3 p.m. Friday, March 22, at the Charleston Coliseum and Convention Center.

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Toyota's Georgetown, Kentucky, facility will get a $238 million infusion to produce hybrid versions of Lexus ES 300 sedans starting in May and the RAV4 SUV starting in January 2020, the company announced. The plant has the capacity of 12,000 units.

"Today's exciting announcement shows Toyota's recognition and continued trust in the high-level skills and expertise of our fantastic team here in Kentucky", said Toyota Kentucky President Susan Elkington.

Toyota has announced a plan to boost investment in several of its US production facilities. We are immensely proud that the Bluegrass State is home to Toyota's largest manufacturing operation, and we enthusiastically support this substantial investment to address the rising demand for hybrid vehicles.

"By boosting our U.S. manufacturing footprint, we can better serve our customers and dealers and position our manufacturing plants for future success with more domestic capacity".

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