Toyota Ups U.S. Investment to $13B, Adds 600 Jobs
Toyota will invest an additional $749 million into its American factories in the coming years. In addition to improving the plants, the expansion will add 586 new jobs. Toyota originally planned to invest $10 billion in sites in the United States in the five-year period starting in 2017, but the automaker was actually able to put nearly $13 billion into the plants in that time.
At $288 million, the biggest part of this new investment goes to Toyotas engine factory in Alabama. The expansion will allow the factory to produce 900,000 powerplants a year by the end of 2021, versus the current 670,000. The site will be building four-cylinder and V6 mills.
Toyota will also put $238 million into its plant in Kentucky. The money will allow the company to shift production of the Lexus ES Hybrid there in May 2019 with an annual capacity of 12,000 vehicles. In addition, Toyota will now be able to build the RAV4 Hybrid at the site, and assembly will start in January 2020 with a capacity of 1000,000 units per year.
Toyota Motor Manufacturing in West Virginia will have $111 million to double the capacity of building hybrid transaxles to 240,000 units, instead of 120,000 of them currently.
Toyotas Bodine Aluminum plant in Missouri gets $62 million to make 864,000 more cylinder heads per year. The site can already build over 3 million of them annually.
Finally, the automakers factory in Tennessee will get $50 million to double the capacity of building hybrid transaxle cases and housings to 240,000 pieces per year. Production of engine blocks will increase by 288,000 units annually, too.