Toyota plans to build $2bn assembly plant in Texas
Japanese auto giant Toyota announced plans to build a new assembly plant in Texas with an investment of about USD 2 billion. The facility will focus on electric and hybrid pickup production. The move was seen as strategic after Honda's record annual loss.
Toyota announced plans to build a new assembly plant in the US state of Texas. The investment is estimated at about USD 2 billion, with production expected to begin in 2028 and 3,000 direct jobs created. The facility will focus on electric and hybrid pickup models.
The announcement follows Honda's USD 11.5 billion electric vehicle write-down and its first annual loss in seven decades. Japanese manufacturers are localising production lines to strengthen their US market positioning. Toyota wants to align with the White House's evolving electric-vehicle incentive framework.
On the supply-chain side, Texas Instruments and semiconductor component makers stand to benefit from increased regional production. Toyota aims to complete planning permissions by the end of the year. Analysts said the move continues a longer-term trend of Toyota shifting its global production centre of gravity outside Japan.
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