Home Investment Toyota ups investment in US plants to $13 billion, adds 600 manufacturing jobs – CNBC

Toyota ups investment in US plants to $13 billion, adds 600 manufacturing jobs – CNBC

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Japanese automaker Toyota is upping its investment in the U.S. by 30 percent to $13 billion by 2021, the company said Thursday.

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The company pledged in 2017 to invest $10 billion in its U.S. factories over five years.

The new plan includes adding 600 jobs at U.S. manufacturing plants, the company said. Toyota said it intends to increase production capacity and renovate factories in Huntsville, Alabama; Buffalo, West Virginia; Troy, Missouri; and Jackson, Tennessee.

Part of the plan includes ramping up production of fuel-efficient vehicles. Toyota said it will produce hybrid versions of the RAV4 crossover and Lexus ES luxury sedan in Kentucky for the first time.

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