US Facilities · Automotive
Toyota pledges $10 billion in US investment over five years
- Company
- Toyota Motor (Toyota City, Aichi)
- Project
- Toyota US operations, Plano, Texas (North American HQ) and US plants
- Value
- $10B over five years
- Status
- Pledge announced on January 9, 2017. It is a company pledge, not a single project; later 2017 plant investments in Indiana, Kentucky and five other plants were counted toward it.
- Date
- 2017-01-09
Toyota said it would invest $10 billion in the US over the next five years. The pledge covers its US plants and operations rather than one project. Over the course of 2017 Toyota announced several plant investments that it counted toward this total.
Why it matters
The pledge came as the incoming Trump administration pressed carmakers to build more in the US. It set the frame for a series of Toyota factory investments that followed in 2017.
Spending under the pledge
In April 2017 Toyota said its $1.33 billion retooling of its Georgetown, Kentucky plant was part of the $10 billion it planned to invest in the US over five years. In January it had already announced $600 million for its Princeton, Indiana plant, and in September it added $374 million for five plants making hybrid powertrain parts.
Toyota's US footprint
Toyota said the new pledge came on top of nearly $22 billion it had invested in the US over the previous 60 years. Its Kentucky plant alone employed about 8,200 people, making it Toyota's largest plant in the world.
Sources
Kakehashi M&A News home
