The Toyota Indiana plant announced that the company will be adding around 400 new jobs and also investing about $600 million in the facility.
Toyota Motor Corporation is an automotive manufacturer. The corporation is headquartered in Toyota, Aichi, Japan. It was founded in 1937 and is one of the world’s largest companies, by revenue.
Toyota is also one of the hybrid electric vehicles market leaders. Its Prius models are amongst, if not, the best-selling hybrid vehicles.
The multinational has an international outreach. It employs almost 339,000 million workers at a global level. Its products include automobiles and engines. It also manufactures luxury and commercial vehicles.
Now, the company will be adding a further number of 400 jobs. Toyota Indiana officials released a statement earlier this week. According to it, the corporation will be investing into one of its U.S.-based facilities.
More exactly, its Southern Indiana plant. Toyota employs an estimated 40,000 people in the United States. Toyota Indiana currently makes up for about 5,000 of them.
This respective plant is situated in Princeton. The small town is in the southern part of the state.
Toyota company officials stated as follows. The corporation is planning on investing around $10 billion in the United States. These investments will be made over the next 5 years.
And according to the same officials, they point out another fact. They reportedly show the company’s commitment to investing into its U.S. segment.
The Toyota Indiana changes seem to be the first step towards this plan. Toyota will be allotting $600 million to this facility. It will be expanding the plant.
In its Tuesday statement, the carmaker explained as follows. This expansion is part of the company’s localization strategy. This will help Toyota focus on building vehicles in the areas in which they are sold.
Its Toyota Indiana plant is one of the main SUV producers. Market reports show that the SUV area has increased significantly over the past few quarters. As the sedan segment was seen to fall, the SUV rose.
The future investment should help boost the plant’s production. As such, Toyota could also meet and supply a higher demand for such vehicles.
Toyota Indiana’s Princeton plant will be modernized. And it will also be adding more workplaces. According to the company, the changes should increase its competitiveness.
The project is set to begin sometime in 2019. And is also expected to finish in the fall of the same year. Further details about the modernization will probably be offered.
For now, it is known that new equipment will be installed. Also, the plant will be equipped with advanced technologies.
This will not be Toyota’s sole project on the American continent. The car manufacturer also expressed its intention of building a new factory. This could be built in Mexico. The plant could begin production as soon as 2019.
Toyota’s Indiana plant is specialized in producing the Highlander model. According to reports, in 2016, it manufactured over 400,000 such vehicles. After the modernization, the plant should produce around 40,000 cars more every year.
Millie Marshall, the Toyota Indiana president, also released a declaration. According to Marshall, the Highlander model is a great vehicle. The model has greatly advantaged the plant.
As it is, the facility is reportedly excited for the chance to deliver even more vehicles to the customers.
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