Toyota to spend another $750mn on US operations

Japan-based automaker Toyota will spend an additional $750mn over the next two years to upgrade vehicle production at facilities spanning five US states.

The largest part will be a $288mn investment to expand V6 engine production in Huntsville, Alabama, boosting annual output to 900,000 units from 670,000 units.

The investment also includes $238mn to increase SUV production in Kentucky, $112mn expanding aluminum casting capacity in Missouri and Tennessee, and $111mn to double capacity at its West Virginia hybrid transaxle plant.

The projects are part of a larger plan, announced in 2017, to invest $13bn in US vehicle manufacturing by 2022, especially in the area of electrification. Toyota originally was targeting $10bn in investment.

"These latest investments represent even more examples of our long-term commitment to build where we sell," Toyota Motor North America chief executive Jim Lentz said.