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Toyota investing $750M, adding 600 jobs at 5 U.S. plants

BUFFALO, W.Va. — Toyota on Thursday announced it is investing an additional $750 million at five U.S. plants that will bring nearly 600 new jobs, including the production of two hybrid vehicles for the first time at its Kentucky facility. It marks yet another expansion of the Japanese automaker's U.S. presence, bringing to nearly $13 billion the amount it will spend by 2021. The latest investments are at facilities in Alabama, Kentucky, Missouri, Tennessee and West Virginia. Those same facilities were part of a 2017 announcement by Toyota for a $374 million investment to support production of its first American-made hybrid powertrain. Toyota Motor North America CEO Jim Lentz said the latest investments "represent even more examples of our long-term commitment to build where we sell. By boosting our U.S. manufacturing footprint, we can better serve our customers and dealers and position our manufacturing plants for future success with more domestic capacity." Toyota's Georgetown, Kentucky, facility will get a $238 million infusion to produce hybrid versions of Lexus ES 300 sedans starting in May and the Rav4 SUV starting in January 2020, the company announced. It also includes $288 million to increase annual engine capacity at Toyota's Huntsville, Alabama, facility. The plant will add 450 jobs to accommodate new four-cylinder and V6 engine production lines. Last year Toyota and Mazda announced plans to build a $1.6 billion joint-venture plant in Huntsville that will eventually employ about 4,000 people. Toyota also is spending $62 million on equipment to boost production of Toyota and Lexus cylinder heads at its Bodine Aluminum facility in Troy, Missouri, as part of its cost-saving New Global Architecture production strategy to share common parts and components among different vehicles. A $50 million expansion and equipment upgrade at its Bodine plant in Jackson, Tennessee, will add 13 jobs and produce engine blocks while doubling the capacity of hybrid transaxle cases and housings. And Toyota will add 123 jobs and spent $111 million to expand its plant and purchase equipment in Buffalo, West Virginia, to double the capacity of hybrid transaxles. Previously, Toyota also announced a $600 million investment at its Princeton, Indiana, plant to increase the capacity of its Highlander SUV and to incorporate the new production strategy, and $170 million to launch the 2020 Corolla on a new production line in Blue Springs, Mississippi.

Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.
Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.

Lexus LCs for SEMA inspired by Blue Morpho butterfly, Marvel's Black Panther

Lexus is bringing a pair of LC 500 coupes to this year's SEMA show, and they're thoroughly different vehicles to one another. The first is a production car, the Lexus LC Inspiration Series. It's a highly limited-edition car that is mostly stock except for a unique paint job. The other also has a special paint scheme, but it's a one-off show car designed around the upcoming Marvel movie, " Black Panther," in which an LC 500 will be featured. The LC 500 Inspiration Series, being a production car, should be of the most interest to consumers, but also because of its special paint. Looking at it, it's very clearly blue, but according to Lexus, there are no actual blue pigments in the paint. Instead, the blue hue comes from the way nano-structures buried in the paint reflect blue light. It works similarly to the wings of the Blue Morpho butterfly, which also lack any actual blue coloration, but the structure of the wings' surfaces reflect blue light. This paint is not easy to make, either. Lexus says it takes eight months to produce a batch, and only two cars with the coating can be built each day. So it's easy to understand why this is a limited edition car and color. Only 100 will be sold in the United States. To sweeten the deal, this Inspiration Series edition comes standard with 21-inch forged wheels, exclusive carbon fiber door sill plates, and, for some reason, a Barneys sommelier bar set with a design inspired by the LC. View 11 Photos As subtle as the Lexus LC 500 Inspiration Series is, the Black Panther LC 500 isn't. The car features an extremely widened body. It's a fairly elegant design, except for the stuck-on claws on the side mirrors that are echoed by the silver panted fender vent strakes. The paint scheme is equally absurd. The dark indigo blue paint has an enormous Black Panther mask design on the hood. Under the car is blue underglow, and the interior is finished in black leather with blue Alcantara. Lexus also lists a number of fictional features for the car, since it is meant for the Black Panther superhero. Among them are a bulletproof, self-healing Vibranium body, systems controlled by a "Wakandan B-CPU (Brain/Computer interface) creating a symbiotic relationship between the vehicle and its driver," and side mirrors with "instinctual positioning technology" to automatically move to the right position for the driver.