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August 03, 2005
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DaimlerChrysler posts operating profit of �1.7 billion in second quarter of 2005
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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." |
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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.
(August 2, 2005)
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