Reference News Network, November 20 report - According to Kyodo News, on November 18, Toyota Motor Corporation announced that it will invest a total of $912 million in five factories in the United States to meet the growing demand for hybrid vehicles.
This move is part of the company's plan announced last week to add up to $10 billion in investments in the United States over the next five years. The factories receiving investment are located in Mississippi, West Virginia, Kentucky, Tennessee, and Missouri.
As the world's largest automaker by sales, Toyota said it will produce the first hybrid version of its popular model "Corolla" at its factory in Mississippi, and plans to enhance the manufacturing capacity of hybrid vehicle engines and related components.
Toyota plans to gradually launch these new production lines in the United States starting from 2027, which is expected to create about 250 new jobs.
According to Toyota, about half of the cars sold in the U.S. market are assembled in the United States; and 76% of the Toyota cars produced in North America (including Canada and Mexico) are used to supply the U.S. market.
Last week, Toyota opened its first overseas battery factory in North Carolina, dedicated to producing lithium-ion batteries for hybrid vehicles, electric vehicles, and plug-in hybrid vehicles.
In September, the U.S. government imposed a 15% import tariff on Japanese cars. Although this rate is lower than the initially set 27.5%, it is six times higher than the 2.5% tariff level before April this year. (Translated by Liu Zongya)
Original article: https://www.toutiao.com/article/7574724723217564195/
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