PLANO, Texas, Sept. 26, 2017 /PRNewswire/ -- Toyota just
upped the stakes to remain the top manufacturer of hybrid vehicles
worldwide with a $373.8 million
investment in five U.S. manufacturing plants that will support
production of its first American-made hybrid powertrain and to
implement Toyota's New Global Architecture (TNGA) at its
Alabama plant. Each of the
projects is scheduled to begin this year and all should be
operational by 2020.
The investments will include adding new production of hybrid
transaxles (hybrid vehicle transmissions) at the Buffalo, WV, manufacturing facility; expanding
2.5-liter engine capacity at the Georgetown, KY, plant; increasing production
of 2.5-liter cylinder heads at Bodine Aluminum's Troy, MO, plant; and modifying the Bodine
Jackson, TN plant to accommodate production of hybrid
transaxle cases and housings and 2.5-liter engine blocks. The
Huntsville, AL, plant will undergo
a comprehensive upgrade to enable it to build engines that
complement TNGA.
"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. Toyota remains the
world leader in gas-electric hybrids, surpassing 3 million sales in
the U.S. and 10 million globally.
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."
The total investment of $373.8
million will be distributed as follows:
• Toyota Motor
Manufacturing, KY – $120,960,000
|
• Bodine Aluminum
Jackson, TN – $14,500,000
|
• Toyota Motor
Manufacturing, WV – $115,300,000
|
• Toyota Motor
Manufacturing, AL – $106,000,000
|
• Bodine Aluminum
Troy, MO – $17,050,000
|
|
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.
About Toyota:
Toyota (NYSE:TM) has been a part of the cultural fabric
in the U.S. and North America for
60 years, and is committed to advancing sustainable,
next-generation mobility through our Toyota and Lexus brands.
During that time, Toyota has created a tremendous value chain as
our teams have contributed to world-class design, engineering, and
assembly of more than 33 million cars and trucks in North America, where we operate 14
manufacturing plants (10 in the U.S.) and directly employ more than
46,000 people (more than 36,000 in the U.S.). Our 1,800 North
American dealerships (nearly 1,500 in the U.S.) sold almost 2.7
million cars and trucks (2.45 million in the U.S.) in 2016 – and
about 85 percent of all Toyota vehicles sold over the past 15 years
are still on the road today.
Contact:
|
|
Kelly
Stefanich
|
Mike
Triebsch
|
kelly.stefanich@toyota.com
|
mike.triebsch@toyota.com
|
(812)
779-8268
|
(502)
693-5975
|
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SOURCE Toyota Motor North America