Toyota invests billions of dollars in factories in the US

Toyota invests billions of dollars in factories in the US

March 18, 2019 0 By autotimesnews

While General Motors stops production at several factories in the US, Toyota announced that it is increasing investment in production in this country by another $ 3 billion, and by 2021, investment will be $ 13 billion.

The main goal of the investment plan is to promote electrification, so the Japanese company plans to begin production of the hybrid RAV4 crossover and Lexus ES sedan in Georgetown (Kentucky).

Toyota also plans to increase the production capacity of a number of plants, including Huntsville, Buffalo, Troy and Jackson, creating 600 new jobs on these sites. In addition, another $ 750 million is invested in Georgetown for the release of the RAV4 and Lexus ES.

According to Jim Lenz, CEO of Toyota Motor in North America, investment is an example of a long-term commitment to build factories where the company sells its cars. With this investment, Toyota is going to increase sales in North America and improve customer service.