TOKYO (dpa-AFX) - Toyota Motor North America, affiliated to Japanese automajor Toyota Motor Corp. (TM, TYT.L, 7203.T), announced late Monday its plan to invest $3.6 billion to expand its manufacturing campus in San Antonio, Texas.
With the investment, the company plans a second vehicle assembly line to support the Tacoma truck. The expansion would create 2,000 new, high-quality jobs, and add 2.5 million square feet to Toyota Texas, doubling its size by 2030.
With the expansion, Toyota's local workforce will climb to around 6,000 team members, supported by 23 on-site suppliers and their employees. Toyota Texas campus, which already includes a vehicle assembly line and new rear axle plant that is nearing startup, assembled more than 197,000 vehicles last year alone.
Over an approximate four-year period, Toyota's North American unit will transition Tacoma production to the expanded Toyota Texas plant from Toyota Motor Manufacturing Baja California or TMMBC. Toyota noted that the San Antonio plant is the exclusive home of the Tundra and Sequoia, both assembled on the same production line.
It is expected that the new facility will enable increased flexibility for the plant through advanced manufacturing technologies.
Total investment in San Antonio since breaking ground in 2003 would be $8.3 billion.
President and CEO Ted Ogawa, TMNA, said, 'Toyota's continued investment in North America is a testament to our confidence in the region's workforce, innovation and long-term growth potential. By expanding our San Antonio plant, we are deepening our commitment to American manufacturing, creating meaningful and sustainable jobs, while advancing our mission to deliver high-quality vehicles that meet the changing needs of customers today and into the future.'
In Japan, Toyota shares were trading at ¥ 2,947.00, up 0.82 percent.
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