Troy, Mo. - On Tuesday, Lincoln County received more good news on the industrial front.
Advancing the company’s commitment to vehicle electrification, Toyota will invest $383 million in four of its U.S. manufacturing plants that build the heart of new Toyota and Lexus vehicles. The new investment supports the production of four-cylinder engines, including options for hybrid electric vehicles, at its Alabama, Kentucky, Missouri and Tennessee plants.
“Toyota customers want vehicles that are fuel-efficient and electrified,” said Norm Bafunno, senior vice president, Unit Manufacturing and Engineering, Toyota. “These investments allow us to meet customer needs and quickly respond to an evolving market. We are committed to investing in the U.S., and our teams are ready to take on this new challenge.”
Toyota is investing $109 million into the Troy plant. Toyota Missouri’s investment provides new equipment to build four-cylinder engine heads on three production lines. The plant has the capacity to build more than three million cylinder heads annually and represents a $564 million investment.
“Toyota has been a strong part of the Missouri community for more than 30 years, and this investment shows we have a bright future ahead of us,” said Terry Henderson, general manager of administration for Toyota Missouri. “We’re proud to build the cylinder heads for Toyota and Lexus vehicles, and we are looking forward to this new project.”
“Toyota’s investment in hybrid and electric vehicles is helping move the automotive industry into the future,” said Missouri Gov. Mike Parson “Missouri is a center for advanced manufacturing excellence, and we are excited to see this investment strengthen our talent pool as the industry shifts to more electrified vehicles.”
Last year, Toyota announced new investments totaling $5.1 billion into its U.S. manufacturing operations to support electrification efforts, demonstrating its commitment to building where it sells and supporting local economies.
Toyota’s U.S. plants produce half of the vehicles it sells in the U.S., and its North American assembly facilities produce more than three-quarters (76%) of the vehicles it sells in the U.S.
In addition to the improvements to its manufacturing facilities, the company is investing in the workforce of the future. Toyota recently announced Driving Possibilities, a $110 million initiative to support PreK-12 education and beyond.
The goal of the initiative is to improve communities and get young people excited and prepared for the job market.