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Toyota Motor Corporation has announced an additional investment of up to $10 billion in the United States during the next five years. This will bring the company’s total U.S. investment to ~$60 billion since beginning operations in the U.S. about 70 years ago. [The cost of taxpayer subsidies via federal, state and local incentives was not disclosed. Nor was it clear if this is an announcement of a planned expansion that was in the works before Trump’s tariff chaos began – AutoCrat] Toyota yesterday held an opening ceremony for Toyota Battery Manufacturing, North Carolina (TBMNC). Now officially starting production, the facility was established in November 2021 as Toyota’s first in-house battery manufacturing company outside Japan. TBMNC is Toyota’s 11th manufacturing facility in the U.S., representing an investment of ~$14 billion and the creation of up to 5100 new jobs.
“Today’s launch of Toyota’s first U.S. battery plant and additional U.S. investment up to $10 billion marks a pivotal moment in our company’s history. Toyota is a pioneer in electrified vehicles, and the company’s significant manufacturing investment in the U.S. and North Carolina further solidifies our commitment to team members, customers, dealers, communities, and suppliers,” said Tetsuo Ogawa, president and chief executive officer, Toyota Motor North America. Continue reading →
Doug Kalitta is NHRA Top Fuel Champion Again
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Toyota (NYSE: TM, 7203T) said today that Doug Kalitta officially secured his second NHRA Mission Foods Drag Racing Series Top Fuel World Championship. For Kalitta this was his second world title in the last three seasons.
“Yeah, this [clinching the championship before race day] is definitely a lot easier than 2023. It always seemed to come down to the last race, last day, but we had a nice string of runs throughout the Countdown. Alan [Johnson, crew chief] and my whole Mac Tools Toyota team have had my car going down the track. It’s been really nice, and just getting good, solid runs. Alan is always throwing down and always has something up his sleeve. So, I’m just really proud of him and my whole team. It’s a huge relief to be able to win the championship before the last round at the last race, and we’re all just super happy.” Continue reading →