Toyota to invest $3.6 billion in Texas
Japanese auto giant Toyota said it will shift production of its mid-size Tacoma pick-up truck from Mexico to the United States as part of a $3.6 billion investment in its Texas plant.
The announcement comes just days after Washington declined to renew a North American trade pact with Mexico, as well as Canada, fuelling uncertainty for businesses.
Toyota said in November it planned to invest as much as $10 billion in the United States over the next five years.
The world’s largest automaker by vehicle sales, Toyota plans to build a second assembly line at its San Antonio factory, creating more than 2,000 jobs and increasing annual production capacity at the plant by 150,000 units, the company said in a statement on July 7.
