In this article
Toyota Motor
on Tuesday announced plans to invest $912 million in U.S. manufacturing plants in five southern states as part of a previously announced plan for the company to invest up to $10 billion domestically by 2030.
The investments announced Tuesday are broadly meant to support increasing production of hybrid vehicles, which Toyota leads with a more than 51% market share through the third quarter of this year, according to Motor Intelligence data. Most of the investments are expected to be completed by 2027.
The largest investment announced Tuesday is $453 million in Toyota’s Buffalo, West Virginia, plant to increase assembly of four-cylinder hybrid-compatible engines.
