VEHICLE PRODUCTION
Toyota plans to keep up pace of investment in US
To defend its Camry franchise, Toyota is mobilising not just what it considers innovative design and performance but also aggressive cost-cutting
Toyota Motor, whose investments in Mexico have drawn criticism from US president-elect Donald Trump, plans to invest $10bn in the US over the next five years, maintaining the pace of spending it established during the past half decade. Jim Lentz, Toyota CEO for North America, outlined the company’s intentions during an interview at the North American International Auto Show in Detroit. Company president Akio Toyoda also made careful mention of its US investments and employment as he introduced the eighth generation of the Camry, the best-selling US car for 15 years running. Since his election Trump has put pressure on US and foreign companies to refrain from producing goods in Mexico intended for the US market. Trump last week criticised an announcement Toyota made 20 months earlier that it would build a factory in Mexico to assemble Corolla compacts from 2019, saying in a tweet that the company should build the plant in the US or pay a "big border tax". On Monday he complimented Fi...
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