Toyota pledges $1.4B in upgrades to two Canadian assembly plants

Toyota (NYSE:TM) says it will spend $1.4B to upgrade two of its manufacturing plants in Ontario, marking one of the largest investments in Canada’s shrinking auto industry in recent years. The factories produce TM's RAV4 sports utility vehicle, and the investment will turn the plants into the company's North American hub for RAV4 production; the RAV4 is TM's top seller in the U.S. and Canada. The federal and Ontario governments each will contribute $110M toward the upgrade of the plants, which they say are scheduled to be completed by late 2019 and create ~450 new jobs. The move also sends a signal of confidence in the ongoing NAFTA negotiations, according to the president of Canada's Auto Parts Manufacturers’ Association.

Toyota pledges $1.4B in upgrades to two Canadian assembly plants

 

Toyota (NYSE:TM) says it will spend $1.4B to upgrade two of its manufacturing plants in Ontario, marking one of the largest investments in Canada’s <a  href=shrinking auto industry in recent years. The factories produce TM's RAV4 sports utility vehicle, and the investment will turn the plants into the company's North American hub for RAV4 production; the RAV4 is TM's top seller in the U.S. and Canada. The federal and Ontario governments each will contribute $110M toward the upgrade of the plants, which they say are scheduled to be completed by late 2019 and create ~450 new jobs. The move also sends a signal of confidence in the ongoing NAFTA negotiations, according to the president of Canada's Auto Parts Manufacturers’ Association." width="300" height="190" />

Toyota says it will spend $1.4B to upgrade two of its manufacturing plants in Ontario, marking one of the largest investments in Canada’s shrinking auto industry in recent years.

The factories produce TM's RAV4 sports utility vehicle, and the investment will turn the plants into the company's North American hub for RAV4 production; the RAV4 is TM's top seller in the U.S. and Canada.

The federal and Ontario governments each will contribute $110M toward the upgrade of the plants, which they say are scheduled to be completed by late 2019 and create ~450 new jobs.

The move also sends a signal of confidence in the ongoing NAFTA negotiations, according to the president of Canada's Auto Parts Manufacturers’ Association.

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