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Tipsheet

More Winning: Toyota Announces $3.6 Billion Investment As It Moves Tacoma Production From Mexico to Texas

More Winning: Toyota Announces $3.6 Billion Investment As It Moves Tacoma Production From Mexico to Texas
AP Photo/Koji Sasahara

Auto manufacturer Toyota made a major announcement regarding its popular Tacoma pickup truck yesterday, namely that it would make a $3.6 billion investment in the state of Texas, and move production of the vehicle from Mexico to Texas.

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That's a big win for the American economy, American workers, and the state of Texas. The move will create roughly 2,000 jobs in the state.

Here's more:

The announcement is part of Toyota’s stated plans to invest up to $10 billion more than previously expected domestically in the U.S. through 2030. It comes less than a week after the Trump administration confirmed it would not extend its trilateral trade pact with Canada and Mexico, instead opting to conduct annual reviews.

A Toyota spokeswoman said the company is “maintaining its operations in Mexico” as Tacoma production transfers from Tijuana to Texas over the next four years, but she declined to share additional details. The company plans to continue to produce Tacoma pickups at another Mexican plant in Guanajuato, she said.

“This investment expands Toyota’s manufacturing capacity and complements our broader North American production network,” she said in an email to CNBC.

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The plant in Texas currently manufactures Toyota's full-sized Tundra pickup truck and its hybrid, and the Sequoia SUV hybrid. Adding production of the midsize Tacoma will roughly double the size of the 2.7 million square foot plant in the next four years. Toyota is also scheduled to begin production of rear axles at a $531 million, 500-million-square-foot plant on the same Texas campus this fall.

Toyota currently employs almost 50,000 people in the United States.

This is another big win for the Trump administration and its vision to strengthen the economy and return good-paying manufacturing jobs to the United States.

Editor’s Note: Thanks to President Trump’s leadership and bold policies, America’s economy is back on track.

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