Toyota to Shift Highlander Hybrid Production to U.S. From Japan
Source: Wall Street Journal
Toyota Motor Corp. will invest $400 million in its Indiana plant as it shifts production of its Highlander sport-utility vehicle hybrid to the U.S. from Japan.
The move will create 400 jobs at the Princeton factory that will produce 50,000 more Highlander vehicles a year, Toyota North American President Yoshi Inaba said during a keynote speech at the Chicago Auto Show Wednesday. Mr. Inaba said he also expects more jobs to be created at the auto-parts makers that supply the plant.
"We plan to export some of those Highlanders to other countries," Mr. Inaba said. "Our exports of made-in-America products to 21 countries has topped 100,000 vehicles and we've just begun exporting American Camry sedans and Sienna minivans to South Korea."
The decision to move the Highlander SUV hybrid to the U.S. continues a production migration from Japan to the U.S. While the volumes of the hybrid model are small, it is a sign of the auto maker's efforts to battle the strong yen, which makes exporting vehicles to the U.S. less profitable.
Read more: http://online.wsj.com/article/SB10001424052970204136404577211253219989094.html?mod=googlenews_wsj
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