The company will invest more than $600 million into its Princeton, Indiana plant.
Ford and GM aren’t only two automakers investing in American jobs. Toyota today announced an expansion of its Princeton, Indiana plant, which will see more than 400 new jobs created in the U.S. by 2020.
The investment totals $600 million, and will help meet the growing demand for the Highlander midsize SUV. The plant will get a much-needed modern upgrade, including things like retooling, new equipment, and advanced technologies in anticipation of an additional 40,000 Highlander SUVs that will be produced there annually.
"This announcement shows Toyota’s commitment to continued U.S. investment," the company said in a statement. "This expansion is part of Toyota’s localization strategy to build vehicles where they are sold."
Last year, the Toyota Princeton plant produced 40,000 Highlanders, the highest in the company’s 20-year history. The third-generation of the SUV, which has been on sale since 2013, saw 191,379 units moved in 2016. The number signifies a 20 percent increase over the year prior, all of those Highlanders being built in the U.S.
Back in January, President Trump threatened the Japanese automaker in production of its Mexican-built Corolla, saying in a tweet, "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax." The new Guanajuato plant will employ more than 2,000 people in production of the small sedan and have a capacity of up to 200,000 cars when completed in 2019.
The new investment will add on to the more than $21.9 billion the company has already invested in its U.S. operations in the past 30 years. With more than 10 manufacturing facilities, 1,500 dealerships, and 25 million vehicles, the company has employed over 136,000 people in the U.S. alone.