Toyota ups United States investment to $13 billion

  • Toyota ups United States investment to $13 billion

Toyota ups United States investment to $13 billion

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.

Toyota Motor Manufacturing Kentucky was already Toyota's largest vehicle plant in the world, capable of making 550,000 vehicles and 600,000 engines annually, according to the company.

The expansion is also part of national growth at locations in Kentucky, Missouri, Tennessee and West Virginia. One of the announcements will directly impact the WSAZ viewing area, creating more than 100 new jobs.

In Huntsville, engine production capacity will increase from 670,000 to 900,000 with the expansion by the end of 2021.

The investment will introduce two new engine assembly lines: a new 4 cylinder and a V6 engine. The jobs are not coming to the WSAZ region, but the company is investing $238 million in the Georgetown plant.

Thursday's announcement comes just days after Toyota announced a partnership with developers to create a 700 acre solar panel farm in Pike County.

Alabama Secretary of Commerce Greg Canfield, says Alabama's automotive sector is a success story that happened quickly. "Overall, the plant represents an investment of more than $7 billion".

Employees are building 2,600 engines a day.

Fernandes says production will begin for the new 4-cylinder engine in 2020.

Manchin described a continued commitment by the company and its workforce. There was also $170 million targeted to launch the 2020 Corolla on a new production line in Blue Springs, Miss.

Fernandes said the pay range for skilled workers will be from $26.40 to $30 per hour. Past job expansions at the facility have generated about 10,000 applications, Fernandes said. "Long-term investments in West Virginia, by companies like Toyota, will continue to benefit out state's economy, communities, and her people", Senator Manchin said. Doug Jones said in the announcement.

First, a $111 million investment will bring 123 jobs to the plant in Buffalo and double its transaxle production. The work of these talented Alabamians powers one-third of the Toyota vehicles built in the U.S. "I thank Toyota for supporting these good, American jobs, and I am proud to stand up for our American workers against any trade policies that would make it harder for automakers like Toyota to keep Alabamians on the job".

But, business being business and politics being what they are right now, it also seems likely that Toyota's expansion of its U.S. production is a show of allegiance to the powers that be in hopes of staving off increased tariffs on the goods that it imports from Japan.