Toyota Motor Corp said on Thursday it will invest $749 million in five U.S. plan...
- Toyota Motor Corp said on Thursday it will invest $749 million in five U.S. plants and add 586 jobs as it boosts engine production capacity and adds new hybrid models to its lineup.
“All this activity I hope shows that we’re a plus factor to the economic national security of the United States,” Toyota North America Chief Executive Jim Lentz told reporters on a conference call. “We believe in America.” Toyota announced last year it would jointly build a new $1.6 billion plant with Mazda Motor Corp in Alabama.
Last month, the U.S. Commerce Department sent a “Section 232” national security report to Trump with recommendations that auto industry officials expect to include at least some tariffs on fully assembled vehicles or on technologies and components related to electric, automated, connected and shared vehicles.
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