Toyota to achieve its five-year US investment commitment one year early

Jul 2, 2020   OEM

For more than 60 years, Toyota has been growing its presence in the United States, and today the company announced it will reach its January 2017 pledge to invest $13 billion over a five-year period one year earlier than anticipated.

The company invested $5.9 billion in supplier tooling, general plant upgrades, research & development, and other selling, general administrative costs, as well as a $1 billion investment into the Toyota Research Institute.

 

"For more than six decades, we have been committed to serving our LS customers by investing locally and building cars where we sell them," said Ted Ogawa, Chief Executive Officer for Toyota Motor North America. "Our commitment to the US 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."

 

As the new USMCA takes effect on July 1, Toyota is well-positioned to meet the aggressive new content requirements. Toyota has created a tremendous value chain in the US., with more than $28.4 billion direct investment in the US, nine manufacturing facilities, 10 including the joint venture with Mazda, nearly 1,500 dealerships and over 184,000 people working across the US.

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