Toyota Motor Corporation (NYSE:TM) shares dropped on Tuesday, despite significant news from the company, including its announcement of a major investment plan for its North American manufacturing footprint.
The company is dedicating $912 million across five different United States factories. This funding will create 252 new jobs. It will also help meet the rising consumer interest in hybrid vehicles.
Also Read: Roblox Is Locking Down Chat For Kids – Part Of A Bigger Cleanup?
The new capital injection follows a prior commitment by the manufacturer, in which it promised a $10 billion investment in U.S. operations over the next five years.
The latest plan allocates funds to plants in West Virginia, Kentucky, Mississippi, Tennessee, and Missouri. This strategy emphasizes building vehicles in the same markets where they are sold.
Hybrid Expansion Across The States
Toyota plans to significantly increase its hybrid production capacity. It will start assembling hybrid-electric Corollas at the Blue Springs, Mississippi, facility. This action marks the first U.S. assembly for the electrified Corolla models.
West Virginia: The Buffalo facility receives $453 million and 80 new positions.
Kentucky: Georgetown’s plant receives $204.4 million in incentives, adding 82 new jobs.
Mississippi: A $125 million investment will retool the Blue Springs plant.
Tennessee: The Jackson casting plant gets $71.4 million and 33 positions.
Missouri: Troy’s plant secures $57.1 million and 57 new team members.
“Customers are embracing Toyota’s hybrid vehicles,” said senior vice president Kevin Voelkel. “Our U.S. manufacturing teams are gearing up to meet that growing demand.”
Toyota’s multi-pathway strategy promotes electrified vehicles, which now account for almost half of all U.S. sales.
In addition, the Toyota USA Foundation supports future workforces. Their $110 million Driving Possibilities program aids PreK-12 education.
According to Benzinga Pro, TM stock has gained over 11% in the past year. Investors can gain exposure to the stock via Precidian ETFs Trust Toyota Motor Corporation ADRhedged (NYSE:TMH).
Price Action: TM shares are trading 1.91% lower at $195.20 at last check on Tuesday.
Read Next:
Photo: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
