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Toyota to spend $3.6 billion to move Tacoma truck from Mexico to U.S.
CNBC • • general
Key Points:
- Toyota is investing $3.6 billion to shift production of the Tacoma midsize pickup from Mexico to its San Antonio, Texas plant, aiming to create 2,000 U.S. jobs and double the plant's size by 2030.
- The San Antonio facility's annual production capacity will increase from about 200,000 to 350,000 units with the addition of a second assembly line.
- This move is part of Toyota's broader plan to invest up to $10 billion more in U.S. manufacturing through 2030, reinforcing its commitment to American production despite maintaining some operations in Mexico.
- The investment supports Toyota's strategy to strengthen its North American production network and aims to help the company close the U.S. sales gap with General Motors, leveraging growing demand for hybrids and new electric models.
- Toyota has invested $8.3 billion in the San Antonio plant since 2003, which currently produces the Tundra and Sequoia hybrids, and recently announced a $531 million rear axle plant expansion on the same campus.
