Toyota hasn't even shown off its 12th-generation Corolla yet, but already it's anticipating some serious volume from its Mississippi plant.
Toyota will invest $170 million into its Mississippi assembly plant in preparation for the next-generation Toyota Corolla, which is rumored to launch in the 2020 model year (2019 calendar year, most likely). In addition, it plans to add approximately 400 jobs over the next 12 months.
That money isn't just going to some new sod around the front door. It will be used to completely replace the current production line, and it's all thanks to four little letters -- TNGA. The new Corolla will ride on the Toyota New Global Architecture (TNGA) platform, which also underpins the new Lexus models like the new , and . It's a busy platform., , , , and , as well as
The automaker has spent more than $1 billion in Mississippi since 2007. But that's a small drop in the bucket compared to its entire US investment since 1960, totaling some $25 billion. This most recent investment is part of Toyota's plan to plunk down $10 billion over the next five years on its US facilities -- in fact, it's nearly halfway to that goal since announcing it just last year.