Toyota’s unexpected announcement was touted by President Trump as proof of the economy’s strength.
Toyota announced a $13 billion investment in the United States over the next 5 years, exceeding their previous commitment to invest $10 billion in the same time frame.
Today Toyota announced it will be expanding its production in the United States, investing a total of $13 billion in the country over the next five years. The automotive company had previously pledged to invest $10 billion, and now plans even more investment.
States receiving new or expanded manufacturing plants include Alabama, Kentucky, Missouri, Tennessee, and West Virginia.
Toyota’s North America chief executive officer, Jim Lentz, said that “These latest investments represent even more examples of our long-term commitment to build where we sell,” and added that this will allow the company to “better serve our customers and dealers and position our manufacturing plants for future success with more domestic capacity.”
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