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Toyota Plans To Invest $391 Million For Its Truck Assembly Plant In Texas

In the recent time, Toyota Motor Corporation reported that it was spending $391 Million for its pickup truck assembly facility in Texas as a part of the Japanese auto manufacturer’s plan to invest $13 Billion in its operations across the U.S. in 5 Years through 2021. The company stated that the investment would be utilized to initiate modern manufacturing technologies at the plant and will also help with the education and development of the regional workforce. Christopher Reynolds—Chief Administrative Officer of Toyota (North America)—said to Reuters the investment can permit the company to ultimately strengthen the plant’s capability but no verdict has been done.

Reynolds further added that the firm was “bullish” on the prospect of its US truck sales that are up by almost 4% in this year. Toyota’s San Antonio truck facility assembles mid-size Tacoma and full-size Tundra pickup trucks and together with its on-site suppliers employs over 7,200 workers at the plant. Individually, Aisin Seiki—Japanese automotive company—said it was spending around $400 Million in a future capability to manufacture automatic transmissions for Toyota and other auto manufacturers that would employ 900 people across Texas.

Similarly, Toyota was in news recently for utilizing Tesla-type Panasonic batteries for its Chinese hybrids. Since auto manufacturers persist to move their resources toward electric cars, it is not a surprise there is real apprehension concerning securing the materials required to construct such cars—specifically, batteries. A new report published by Reuters alleged Toyota has started utilizing Tesla-type batteries of Panasonic for its Chinese hybrid models. This move to utilize the batteries supposedly came as Toyota functions to secure its potential battery supply for additional electrified vehicles. Whilst it is the same kind utilized in Tesla’s, the cylindrical-shaped batteries are seemingly is also the work of a co-operation amid Toyota and Panasonic in the last few years.

Kelly Rivera
Kelly Rivera Author
Lead Editor At Global Newspaper 24

Kelly has been one of the most knowledgeable personalities in the Global Newspaper 24’s Business section team. While she has completed MBA in Finance Degree, she has always demonstrated her core knowledge in business management and affection toward the freedom of expression through words by crafting superlative news reports for all the readers of the Global Newspaper 24 platform. At present, Kelly works as the Head of the Business Department and is responsible for checking all the news reports for readability while adhering to the quality standards of Global Newspaper 24. Kelly is a super-active personality that loves to write news reports on various topics such as mergers & acquisitions, latest product launches, and major business events.

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