Toyota investing additional $391M in San Antonio truck assembly plant
18 September 2019
Toyota is investing an additional $391 million at its San Antonio truck assembly plant. Once the new investment is complete, the plant’s total investment will exceed $3 billion.
This is Toyota’s third investment at its San Antonio truck plant which assembles the full-size Tundra and mid-size Tacoma pickup trucks; the facility directly employs more than 3,200 team members. Including its 23 on-site suppliers, total employment at the plant’s site tops 7,200.
The announcement comes as part of a broader commitment from Toyota to invest $13 billion in its US operations over five years through 2021. This new investment also comes with a commitment by Toyota Texas to continue funding local workforce development.
As part of Toyota’s commitment to help San Antonio’s workforce and education, Alamo Promise will receive a $500,000 donation from Toyota Texas over a five-year period. Alamo Promise’s mission is to end poverty, enhance economic and social mobility and meet workforce demands throughout the city.
Separately, Aisin AW, a supplier to Toyota Texas and other automakers, announced that it will invest $400 million and bring 900 new jobs to a future facility in nearby Cibolo, TX.
This new investment at Toyota Texas is in response to strong customer demand and will make the plant even more competitive in the long-term and more efficient while remaining flexible with multi-vehicle production capabilities by introducing various advanced manufacturing technologies.
According to a study commissioned by the San Antonio Economic Development Foundation, total economic impact of these investments will surpass $10 billion with an employment multiplier of over 40,000 jobs over the next ten years for the region.
Over the border lower cost labour is interesting to compete with Mexico, China, So-Korea and EU contries?
Posted by: HarveyD | 18 September 2019 at 08:48 AM
They have good margins on mid-size Tacoma pickup trucks.
Posted by: SJC | 18 September 2019 at 03:21 PM