Toyota to Hike U.S. Investment by Nearly $3 Billion

Toyota Motor Corp. says it is expanding a previously announced $10 billion U.S. expansion program to nearly $13 billion by 2022.

The first $749 million in new spending will add vehicle and component capacity at facilities in five states, generating nearly 600 jobs.

Toyota’s engine plant in Alabama will get $288 million to hike annual capacity to 900,000 engines from the current 670,000. A final assembly facility in Kentucky will receive $238 million to tool up for hybrid versions of the Toyota RAV4 small crossover and Lexus ES 300h sedan.

Toyota also will give a component plant in West Virginia $111 million to double capacity to make hybrid transaxles to 240,000 units per year by 2021. A companion facility in Tennessee will get $50 million to double its output of cases and housings for hybrid transaxles.

Finally, a factory in Missouri that makes aluminum cylinder heads will receive $62 million to boost annual output to 864,000 units.