Steel Markets
March 21, 2019
Toyota Announces Further Investment in U.S. Operations
Written by Sandy Williams
Toyota hopes to prevent becoming a victim of auto tariffs by investing in its U.S. operations. The company has increased its 2017 pledge to invest $10 billion by 2021 to a new target of $13 billion. Toyota’s announcement last week includes $750 million for capacity increases and building expansions at Toyota’s plants in Huntsville, Ala., Buffalo, W. Va., Troy, Mo. and Jackson, Tenn. These investments will result in nearly 600 new jobs.
“We’ve been part of the cultural fabric in the U.S. for over 60 years,” said Chris Reynolds, Toyota Motor North America’s chief administrative officer for manufacturing and corporate resources during a press call on March 14. “In a time when others are scaling back, we believe in the strength of America.”
