Toyota and Aisin AW commit to combined $791M investment in Texas manufacturing
Texas serves as Toyota USA's home state and the company isn't shy about investing in its presence there.
Toyota's manufacturing presence in the US is absolutely huge, and that's in large part due to the company's commitment to building cars in the market for which they're intended.
One of the company's most important US plants is its truck assembly plant in San Antonio, and Toyota announced on Tuesday that it was investing a cool $391 million in the facility. That investment is part of Toyota's larger commitment to investing $13 billion in its US manufacturing infrastructure through 2025.
"What a huge win for San Antonio. This is exactly the kind of project our city has strategically been preparing for -- it shows we're a competitive region ready for big investment from large manufacturers," San Antonio Mayor Ron Nirenberg said in a statement. "Toyota's investment in our people and our city creates opportunity that can change the lives of an entire generation."
Maybe even cooler than the investment of money in its factory is Toyota's plan to invest in the local workforce to help provide jobs for the plant. This will come in the form of a $500,000 donation to Alamo Promise, a nonprofit dedicated to providing tuition assistance for local students.
"We've been in the US for more than 60 years, creating a tremendous value chain in this country and creating an extensive footprint in the Alamo City since 2003," Chris Reynolds, Toyota Motor North America chief administrative officer of manufacturing and corporate resources, said in a statement. "With 10 US plants, [a] 1,500-strong dealer network, an extensive supply chain and other operations, we directly and indirectly employ over 475,000 Americans and are committed to investing here."
But wait, there's more. Aisin AW -- which is a major supplier for Toyota and is also a part of the Toyota Group -- is investing $400 million to build a facility in nearby Cibolo, Texas. It's expected to bring 900 new jobs to the community.
