Toyota Investing $200 Million at 3 U.S. Plants
Toyota Motor Corp. (7203), the world’s largest automaker by vehicle sales, said it’s investing $200 million at three U.S. plants.
The spending includes $150 million at a Huntsville, Alabama, engine plant, according to an e-mailed statement yesterday. Toyota is also investing at factories in Troy, Missouri, and Jackson, Tennessee, which supply the Alabama facility.
The automaker, based in Toyota City, Japan, saw its U.S. vehicle sales rise 5.2 percent this year through May, less than the 7.3 percent industrywide sales increase. Toyota has spent about $2 billion in North American manufacturing investments the past two years.
The plans disclosed today are to boost machining capacity and engine part output for V-6 engines. Toyota will complete an expansion of the engine plant by early 2014. The machining project announced today is scheduled to be completed by July 2015.
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