Toyota Meets U.S. Investment Goal One Year Early
Toyota has achieved its $13 billion U.S. investment goal a year early. Following one of President Trump’s Twitter diatribes, the Japanese automaker had, in January 2017, pledged to invest $10 billion in its U.S. operations over the next five years.
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The figure was later raised to $13 billion, but despite this, Toyota says it has successfully delivered on its pledge a year early — in addition to having created more than 6,500 new jobs. Below, you’ll find a simplified overview of the automaker’s key investments throughout America.
- In January 2017, the automaker invested $600 million in its Princeton plant as part of a modernization project, creating 400 new jobs.
- In April 2017, it invested $1.33 billion in its Georgetown plant to prepare it for advanced technologies and the Toyota New Global Architecture.
- In July 2017, it completed its new regional corporate headquarters in Plano, Texas. This represented a $1 billion investment and created 1,000 new jobs.
- In August 2017, it invested $800 million in a brand-new vehicle manufacturing facility shared with Mazda, creating approximately 4,000 new jobs.
- In September 2017, it invested $373.8 million and created 50 new jobs across various manufacturing plants to support the production of its TNGA hybrid powertrain.
- In April 2018, it invested $170 million in its Blue Springs plant to prepare for the 12th-generation Corolla, creating 400 new jobs.
- In March 2019, it invested $750 million and created 600 new jobs across various plants to expand their vehicle and unit capacities.
- In September 2019, it invested $391 million for further TNGA upgrades at its San Antonio plant.
- In January 2020, it invested $700 million and created 150 new jobs at its Princeton plant to complete the modernization project started three years prior and to add 40,000 units of vehicle capacity.
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Toyota’s U.S. investment also includes $5.9 billion in supplier tooling, research and development, and general plant upgrades, as well as $1 billion in the Toyota Research Institute.
“Our commitment to the U.S. market is unwavering, and we are underscoring this point today with the completion of a $13 billion investment and over 6,500 new jobs since 2017 as we focus on advancing electrification and improving mobility for more Americans,” said Ted Ogawa, CEO of Toyota Motor North America.
Kurt Verlin was born in France and lives in the United States. Throughout his life he was always told French was the language of romance, but it was English he fell in love with. He likes cats, music, cars, 30 Rock, Formula 1, and pretending to be a race car driver in simulators; but most of all, he just likes to write about it all. See more articles by Kurt.