Toshiba Invests $44.2M to Produce Hybrid Vehicle Motors in Houston, Texas
06/23/2010
The company will invest $44.2 million in a new production line to make motors for industrial use. The expansion marks Toshiba's first foreign production site serving the automotive sector. Construction will begin in January 2011, and production in 2012 when Ford starts production on its new hybrid model.
The company estimated that the global market for motors in hybrid and electric vehicles will reach more than $11 billion by 2020.
The value of Toshiba's contract with Ford is confidential, according to company spokesperson Keisuke Ohmori.
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