On 24 January, Toyota announced that the company would be investing $600 million into its American manufacturing subsidiary, Toyota Motor Manufacturing Indiana.
This investment is being made with the goal of helping further meet the increasing demand for the companyâ€™s premier midsize SUV in the US, the Highlander. From fall of 2019, the company plans to be providing 40,000 more Highlanders each year.
In addition to this, funding has also been allocated to reform the whole of the Indiana production plant. By adopting the latest manufacturing technology, as well as updating equipment and facilities, Toyota plans to reinvigorate the plant and make it a manufacturing force to be contended with in the future. Also, it is predicted that approximately 400 new employees will be hired to coincide with this new investment.
The decision to reinvigorate the Indiana plantâ€™s production capabilities is one part of the auto manufacturerâ€™s plan to sustain localized car manufacturing, and this investment will serve as a symbol of Toyotaâ€™s dedication to preserving auto manufacturing within the US.
Jim Lentz, CEO of Toyota Motor North America, stated that â€œWe believe we should improve the competitiveness of our current factories, and plan to invest $10 billion into Toyota of North America over the next 5 years.â€
[Translated by Bryce Clarke]