Toyota Plans $12 Billion Investment In Plants And Equipment

April 20, 2006
Toyota Motor said April 20 it plans to spend about 1.4 trillion yen (US$12 billion) on plants and equipment in the year to March 2007, with the focus on overseas markets. Spending on a plant in Texas, which is due to come on-stream by end-2006, will be ...

Toyota Motor said April 20 it plans to spend about 1.4 trillion yen (US$12 billion) on plants and equipment in the year to March 2007, with the focus on overseas markets.

Spending on a plant in Texas, which is due to come on-stream by end-2006, will be increased to $850 million from the original $800 million, while in Canada, Toyota will invest up to $700 million on a plant that will start production in 2008, the Nihon Keizai business daily reported.

Toyota will also spend about $128 million in Russia on a plant due to begin operating in December 2007.

Toyota, Japan's largest automaker and ranked number two in the world has been investing billions of dollars in development and production facilities to boost global production in response to record sales as sky-high oil prices fuel unprecedented interest in its gas-electric hybrid models.

Copyright Agence France-Presse, 2006

Popular Sponsored Recommendations

HCM and Digital Scheduling Technology: An Underutilized Solution for One of Manufacturing’s Biggest Challenges

April 2, 2023
Digital scheduling tools available via advanced Human Capital Management solutions offer compelling ways to improve production-line workforce retention, engagement, and productivity...

Do You Have Peace of Mind with Your Plant?

March 5, 2024
Can you call your supplier and get a response at 2 in the afternoon or 2 in the morning? Find out how many plants keep their operations running without worry.

Electric Vehicles Spark New Opportunities in the Automotive Industry

Dec. 4, 2023
Automakers have increased plans to produce Electric Vehicles to meet customer demand for low emissions. With this radical shift, new opportunities and challenges for the auto ...

5 Reasons Your Business Does or Doesn’t Need an ESOP

March 18, 2024
Unlock the potential of ESOPs: Empower employees as shareholders; Tax benefits for business owners; Preserve legacy & streamline transition; Navigate complexities wisely.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!