Advancing STEM Education: Toyota Invests Up To $6.7 Million In Alabama Schools

Rhea-AI Summary

Toyota USA Foundation (TUF) Grants $6.7M to Huntsville City Schools for STEM Education (TMNA)

Positive

• Toyota's $6.7 million grants to Huntsville City Schools will prepare students for STEM careers
• The collaboration aims to increase awareness of future STEM careers and build sustainable programs
• Driving Possibilities initiative focuses on PreK-12 education and aims to close educational gaps for students
• Toyota's initiative is the largest and most comprehensive in the company's history

Negative

• Potential dilution of shares due to increased funding and expansion of programing
• Risks associated with long-term investments in education programs

Hands-On STEM Program, New Teacher Center Creates Opportunities for Huntsville Students

HUNTSVILLE, Ala., Aug. 10, 2023 /PRNewswire/ -- Toyota USA Foundation announced grants of up to $6.7 million to prepare Huntsville City Schools' students for future careers in science, technology, engineering and math (STEM). The collaboration is part of Toyota's Driving Possibilities initiative and is a five-year phased rollout of programing in select schools.

"Our goal is to increase awareness of future STEM careers while helping build sustainable programs in the communities where our Toyota team members live and work," said Tellis Bethel, group vice president of social innovation, Toyota. "With $2.9 million in the first year, and more to come in years ahead, we're looking forward to the expansion of Driving Possibilities in the Huntsville area."

Driving Possibilities focuses on PreK-12 education and builds on existing programs across the country. The long-term initiative's aim is to close educational gaps for students through innovative, hands-on STEM programming while addressing the essential needs of students and families.

"The Driving Possibilities framework provides a holistic approach to addressing gaps in education," said Jason Puckett, president of Toyota Alabama. "Our mission is to collaborate with local schools, community partners and other businesses, to help students reach their full potential. The success of our students will determine the future of our community."

"Toyota understands the importance of training and preparing our students to fill high-tech, 21st Century jobs by the time they graduate," said Lt. Gov. Will Ainsworth. "Alabama consistently ranks among the nation's leaders in economic development and industrial recruitment, and thanks to generous corporate partners like Toyota, we have the tools necessary to maintain that top ranking for many years to come." 

Today's announcement supports a new industrial tech program at the recently announced Huntsville City Schools Career Tech Center. The program creates a direct pathway into high-demand manufacturing careers. Driving Possibilities is also funding new teacher coaches, training and mentorship at select schools in partnership with the New Teacher Center.

In 2022, the Toyota USA Foundation announced Driving Possibilities, a $110 million national, career readiness and community engagement initiative, launched to prepare youth for the careers of tomorrow. It is a unique approach that brings together educators, local and national nonprofits, and communities to create limitless possibilities for all. With efforts across the PreK-12 education continuum, the program is the largest and most comprehensive in Toyota's history. The initiative is funded by Toyota USA Foundation, Toyota Motor North America (TMNA) and Toyota Financial Services (TFS). 

Huntsville, Ala. is the fifth site to launch Driving Possibilities programming, which is based on more than 60 years of active support in Toyota communities across the U.S. and builds off the successful model in West Dallas.

Toyota USA Foundation
The Toyota USA Foundation is a charitable endowment created to support education programs serving PreK through 12th-grade students and their teachers in the United States, with an emphasis on science, technology, engineering, and math (STEM). For more information about the Toyota USA Foundation, visit www.toyotaeffect.com/impact. 

About Toyota 
Toyota (NYSE:TM) has been a part of the cultural fabric in North America for more than 65 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships. 

Toyota directly employs more than 63,000 people in North America who have contributed to the design, engineering, and assembly of nearly 45 million cars and trucks at our 13 manufacturing plants. By 2025, Toyota's 14th plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, Toyota currently offers 24 electrified options.

About Toyota Financial Services 
Toyota Financial Services (TFS) is the brand for finance and related products for Toyota in the United States, offering retail auto financing and leasing through Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS also offers vehicle and payment protection products through Toyota Motor Insurance Services (TMIS). The company services Lexus dealers and customers using the Lexus Financial Services brand. 

As of March 31, 2022, TFS employed approximately 3,700 team members nationwide, and had assets totaling over $135 billion. It is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation.

We announce material financial information using the investor relations section of our website (www.toyotafinancial.com) and SEC filings. We use these channels, press releases, and social media to communicate about our company, our services and other issues. While not all information we post on social media is of a material nature, some information could be material. Therefore, we encourage those interested in our company to review our messages on Twitter at www.twitter.com/toyotafinancial and posts on Facebook at www.facebook.com/toyotafinancial/.

Media Contacts:
Bekah Schmidt
bekah.schmidt@toyota.com 

Amanda Roark
amanda.roark@toyota.com

 

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SOURCE Toyota Motor North America

FAQ

What is the total amount of grants provided by Toyota USA Foundation to Huntsville City Schools?

Toyota USA Foundation provided grants of up to $6.7 million to prepare Huntsville City Schools' students for future careers in STEM.

What is the focus of the Driving Possibilities initiative by Toyota?

The focus of the Driving Possibilities initiative is on PreK-12 education and aims to close educational gaps for students through innovative, hands-on STEM programming.

What is the goal of the collaboration between Toyota and Huntsville City Schools?

The goal of the collaboration is to increase awareness of future STEM careers while helping build sustainable programs in the communities where Toyota team members live and work.

What is the long-term aim of the Driving Possibilities initiative?

The long-term aim of the initiative is to prepare youth for the careers of tomorrow and create limitless possibilities for all by bringing together educators, nonprofits, and communities.

What is the role of the Toyota USA Foundation in supporting education programs?

The Toyota USA Foundation supports education programs serving PreK-12 students and teachers in the U.S., with an emphasis on STEM education.