Toyota to Achieve its Five-Year U.S. Investment Commitment One Year Early

Rhea-AI Summary

Toyota has announced achieving its investment pledge of $13 billion in the U.S. one year earlier than planned. This initiative, active since 2017, has created over 6,500 jobs. Key investments include $700 million for a plant modernization in Indiana and $750 million for expansions across multiple states. The company's total direct investment in the U.S. is over $28.4 billion, with a strong commitment to advancing electrification and mobility. Moving forward, Toyota is poised to meet new content requirements under the USMCA.

Positive

• Achieving the $13 billion investment commitment one year early.
• Creation of over 6,500 new jobs since 2017.
• Significant investments in various states, enhancing production capacity.
• Continued commitment to electrification and mobility advancements.

Negative

• None.

PLANO, Texas, June 30, 2020 /PRNewswire/ -- 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.

Key investments include:

DATE	LOCATION	NEW INVESTMENT	NEW JOBS	DETAILS
January 2020	Princeton, IN	$700 million	150	Completion of plant modernization project; added 40,000 units of vehicle capacity
September 2019	San Antonio, TX	$391 million	---	Toyota New Global Architecture (TNGA) and advanced technologies
March 2019	Huntsville, AL Georgetown, KY Troy, MO Jackson, TN Buffalo, WV	$750 million	600	Vehicle and unit plant expansion
April 2018	Blue Springs, MS	$170 million	400	TNGA for 12th generation Corolla
September 2017	Huntsville, AL Georgetown, KY Troy, MO Jackson, TN Buffalo, WV	$373.8 million	50	Support production of TNGA hybrid powertrain
August 2017	Huntsville, AL	$800 million	*4,000	Greenfield vehicle manufacturing facility with Mazda (*Mazda Toyota Manufacturing JV)
July 2017	Plano, TX	$1 billion	1,000	Completion of new regional corporate headquarters
April 2017	Georgetown, KY	$1.33 billion	---	TNGA and advanced technologies
January 2017	Princeton, IN	$600 million	400	Plant modernization project

In addition to the investments previously announced, 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 U.S. 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 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."

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 U.S., with more than $28.4 billion direct investment in the U.S., nine manufacturing facilities, 10 including our joint venture with Mazda, nearly 1,500 dealerships and over 184,000 people working across the U.S.

About Toyota
Toyota (NYSE:TM) has been a part of the cultural fabric in the U.S. and North America for more than 60 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands. During that time, Toyota has created a tremendous value chain as our teams have contributed to world-class design, engineering, and assembly of more than 40 million cars and trucks in North America, where we have 14 manufacturing plants, 15 including our joint venture in Alabama (10 in the U.S.), and directly employ more than 47,000 people (over 36,000 in the U.S.). Our 1,800 North American dealerships (nearly 1,500 in the U.S.) sold 2.7 million cars and trucks (2.4 million in the U.S.) in 2019.

Through the Start Your Impossible campaign, Toyota highlights the way it partners with community, civic, academic and governmental organizations to address our society's most pressing mobility challenges. We believe that when people are free to move, anything is possible. For more information about Toyota, visit www.toyotanewsroom.com.

Contact:  
Victor Vanov      469.292.1318

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SOURCE Toyota Motor North America

FAQ

What is Toyota's investment commitment in the U.S.?

Toyota committed to invest $13 billion in the U.S. and achieved it one year earlier than planned.

How many jobs has Toyota created with its investments?

Toyota has created over 6,500 jobs since 2017 through its U.S. investments.

What is the total direct investment Toyota has made in the U.S.?

Toyota's total direct investment in the U.S. exceeds $28.4 billion.

When did Toyota announce reaching its investment pledge?

Toyota announced reaching its investment pledge on June 30, 2020.

What are some key investments made by Toyota in the U.S.?

Key investments include $700 million for plant modernization in Indiana and $750 million for vehicle and unit plant expansions.

How is Toyota positioned with the new USMCA requirements?

Toyota is well-positioned to meet the aggressive new content requirements of the USMCA effective July 1.