Toyota is known for its innovation and technology-driven designs. By investing more and more money into its own future, as well as the future of innovation, Toyota has grand plans to change the landscape of the auto world. That cannot be made more obvious by Toyota’s investment in its global operations, and one American state in particular.
Where Toyota just invested over $1.3 billion
According to the Toyota Newsroom, Indiana will be reaping the benefits of the Japanese automaker’s future plans. In conjunction with its “commitment to better serve customers and build vehicles where they are sold,” Toyota recently announced that an additional $700 million and 150 jobs have been invested into completing a modernization project which was first announced in January of 2017. This most recent investment brings the total project investment to $1.3 billion, with a total of 550 new jobs.
Toyota Indiana has used the brand’s investment money for “retooling, new equipment installation, and advanced manufacturing technologies to further modernize the facility and meet strong demand for the all-new 2020 Toyota Highlander.”
But Toyota has been investing in and growing its Indiana project since 1996, bringing its total investment now to $5 billion and 7,000 employees. With its most-recent modernization, the plant can now assemble over 420,000 vehicles in a year.
Toyota made its investment announcement at the Princeton, Indiana plant, where the newest Highlander just recently began its production. According to The News Wheel, Toyota also announced that it will commit $1 million to a workforce program designed for local high school students, which will connect students with career opportunities in advanced manufacturing.
Governor of Indiana, Eric Holcomb, is appreciative of Toyota’s investment in Indiana, which “has been providing quality career opportunities and helping train Indiana’s future workforce.”
Toyota’s investing its future into the U.S.
This obviously isn’t Japanese brand Toyota’s only investment in the U.S. In fact, this newest investment is only “part of a broader commitment from Toyota to invest $13 billion in its U.S. operations over a five-year period through 2021.” Though it has only officially committed around $7 billion of that so far, its total direct investment in the U.S. stands at nearly $30 billion.
Toyota has ongoing plans to “improve the operational speed, competitiveness, and transformation at its North American vehicle assembly plants based on platforms and common architectures,” with specific goals to streamline its success.
At the Princeton, Indiana plant, production will focus on mid-size SUVs and minivans like the Highlander, Highlander Hybrid, and Sienna. The Sequoia, however, will no longer be on the production line by 2022. In San Antonio, Texas, Toyota will focus its production on full-size, body-on-frame, trucks and SUVs like the Tundra.
Toyota Texas will start production of the Sequoia in 2022, but cease production of the Tacoma by the end of 2021. As of this year, Toyota has invested more than $3 billion in its Texas plants.
Where Toyota is headed
Investing in its American operations isn’t Toyota’s only plan for the future. In fact, Toyota has given itself quite a few goals and challenges for the future. According to Forbes, Toyota has ambitious plans to decrease the global average of carbon dioxide emissions by 90%, over its levels in 2010, with its Toyota Environmental Challenge 2050.
As if those plans aren’t grand enough, Toyota even has plans to build a “city of the future” in Japan. According to CNBC, Toyota plans to use a 175-acre site at the base of Mt. Fuji in Japan to build a prototype city of the future. This “city of the future” will include “thousands of residents and will test autonomous vehicles, robotics, personal mobility, smart homes, and artificial intelligence.”