Toyota Motor Corp. will further expand production of electric vehicle parts at plants in West Virginia and Tennessee with a $90 million investment.
The latest upgrade involves spending $73 million at the plant to annually assemble an estimated 120,000 rear motor stators, a key component in electric motors.
Toyota will spend $17 million to increase the production capacity for hybrid transaxle cases and housings at its nearly 400-worker facility in Jackson, Tennessee.
David Rosier, president of Toyota Motor Manufacturing West Virginia, noted that Toyota is moving quickly toward an electrified future, and West Virginia will play a critical role in that journey
The automaker said it is committed to offering electric vehicles across its lineup of Toyota and Lexus vehicles by 2025.
Three months ago, the Japanese automaker announced it would invest $240 million for a hybrid powertrain-dedicated production line at its facility in Buffalo, West Virginia.
Toyota also plans to build a new $1.29 billion factory in the U.S. to manufacture batteries for hybrid and fully electric vehicles.


Lee Seung-heon Signals Caution on Rate Hikes, Supports Higher Property Taxes to Cool Korea’s Housing Market
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains
Australian Household Spending Dips in December as RBA Tightens Policy
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Anta Sports Expands Global Footprint With Strategic Puma Stake
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 



