. Toyota to Increase Investment at San Antonio
Plant
Photo: Toyota
Tundra
ERLANGER, Ky. - Toyota
Motor Manufacturing North America announced that it will invest
an additional $50 million at its San Antonio plant currently under
construction to allow for a 50,000 vehicle increase in overall production
capacity.
This will bring the
total investment of Toyota Motor Manufacturing, Texas (TMMTX) to
$850 million and will give the plant total production capacity of
200,000 vehicles per year. TMMTX is scheduled to begin production
of the Tundra full-size pick-up truck by the end of 2006.
"Toyota's announcement
today that it is investing another $50 million in Texas is great
news for our state," Gov. Rick Perry said. "I am particularly proud
to be making this announcement on the same day that my wife, First
Lady Anita Perry, and Secretary of State Roger Williams are meeting
with Toyota officials in Japan as part of a trade mission there.
I share Toyota's commitment to the principle of 'kaizen' (continuous
improvement) and look forward to many years of continued partnership
with Toyota."
Toyota officials noted that
this capacity increase will allow the company to respond quickly to market
conditions should demand for the popular Tundra continue to grow. Making
the additional investment now while the plant is under construction is more
efficient than expanding after production actually begins at the facility.
The increase will be accomplished through machinery and line-spacing modifications.
At this point, no decision has been made to increase employment beyond the
2,000 initially announced in 2003.
With today's announcement,
Toyota will have the annual capacity to build 1.81 million cars and trucks,
1.44 million engines, and 600,000 automatic transmissions in North America
by 2008. The company's direct employment is 37,000 and direct investment
is nearly US$16.3 billion with annual purchasing of parts, materials, goods
and services from North American suppliers totaling nearly US$25 billion.
Toyota's North American-produced vehicles include the Avalon, Camry, Corolla,
Matrix, Sienna, Solara, Sequoia, Tacoma, Tundra, and the Lexus RX330.
