Toyota Plans Major Expansion at Five U.S. Manufacturing Hubs
The investments will include adding new production of hybrid transaxles (hybrid vehicle transmissions) at the Buffalo, West Virginia, manufacturing facility for $115,300,000; expanding 2.5-liter engine capacity at the Georgetown, Kentucky plant amounting to $120,960,000; increasing production of 2.5-liter cylinder heads at Bodine Aluminum's Troy, Missouri plant for $17,050,000; and modifying the Bodine Jackson, Tennessee plant to accommodate production of hybrid transaxle cases and housings and 2.5-liter engine blocks for $14,500,000. The Huntsville, Alabama, plant will undergo a comprehensive upgrade to enable it to build engines that complement TNGA amounting to $106,000,000.
Each of the projects is scheduled to begin this year and all should be operational by 2020.
"This investment is part of our long-term commitment to build more vehicles and components in the markets in which we sell them," said Jim Lentz, CEO, Toyota Motor North America. "This strategy is designed to better serve our customers and dealers, and positions our manufacturing operations to fulfill their needs well into the future."
The 2.5-liter engines manufactured in Kentucky and transaxles made in West Virginia will be used in hybrid vehicles built in North America such as the Highlander Hybrid manufactured in Princeton, Indiana.
According to company officials, fifty new jobs will be created because of the investment at the Alabama plant. There will be no net gain of jobs at the Kentucky, West Virginia, or Bodine Aluminum facilities, but these investments will help to ensure the stability of the plants' employment levels in the future.
"This investment across five American plants expands capacity for our latest TNGA engines, and localizes production of hybrid powertrains, a core Toyota technology," said Jeff Moore, Senior Vice President for Manufacturing. "It underscores Toyota's confidence in the capability and global competitiveness of our North American manufacturing."
These projects, and others previously announced, move Toyota nearly halfway ($4.1 billion) toward its commitment to invest $10 billion in the U.S. as announced by CEO Akio Toyoda in January 2017.
The Evolution of the Megasite
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
Rail Gains Advantage Amidst Supply Chain Snarls
The 2021 Top States for Doing Business Reflect Their Locational Advantages
Trends in Data Center Site Selection
2021 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Innovative and Collaborative Design Sets the Stage for Life Science Innovation