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▼ Toyota To Invest $912 Mil In U.S. Factories To Meet Hybrid Demand
- Category:Driving
Toyota Motor Corp said Tuesday it would invest a total $912 million in five factories in the United States to meet the growing demand for hybrid vehicles.
The move is part of the company's plan, announced last week, to invest up to an additional $10 billion in the United States over the next five years, with factories in Mississippi, West Virginia, Kentucky, Tennessee and Missouri subject to the investment.
Toyota, the world's largest automaker by volume, said it would produce its first hybrid version of the mainstay Corolla in Mississippi and aim to strengthen its manufacturing capabilities for engines and parts for hybrid vehicles.
It plans to start operating the new lines in stages from 2027 and is expected to newly employ about 250 people.
According to the automaker, around half of the vehicles sold in the United States are assembled within the country, while 76 percent of those manufactured across North America, including Canada and Mexico, are produced for sale in the United States.
Toyota last week opened its first overseas plant in North Carolina dedicated to the production of lithium-ion batteries for hybrids, electric vehicles and plug-in hybrids.
Washington imposed a 15 percent tariff on Japanese car imports in September, down from the 27.5 percent initially set by U.S. President Donald Trump. The figure, however, remains six times higher than the 2.5 percent rate that applied before April.
The move is part of the company's plan, announced last week, to invest up to an additional $10 billion in the United States over the next five years, with factories in Mississippi, West Virginia, Kentucky, Tennessee and Missouri subject to the investment.
Toyota, the world's largest automaker by volume, said it would produce its first hybrid version of the mainstay Corolla in Mississippi and aim to strengthen its manufacturing capabilities for engines and parts for hybrid vehicles.
It plans to start operating the new lines in stages from 2027 and is expected to newly employ about 250 people.
According to the automaker, around half of the vehicles sold in the United States are assembled within the country, while 76 percent of those manufactured across North America, including Canada and Mexico, are produced for sale in the United States.
Toyota last week opened its first overseas plant in North Carolina dedicated to the production of lithium-ion batteries for hybrids, electric vehicles and plug-in hybrids.
Washington imposed a 15 percent tariff on Japanese car imports in September, down from the 27.5 percent initially set by U.S. President Donald Trump. The figure, however, remains six times higher than the 2.5 percent rate that applied before April.
- 19/11 20:27
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