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Toyota's Texas move could boost state's economy by $7.2B in 10 years

They say everything is bigger in Texas, and apparently that includes the Toyota's effect on the economy. The giant Japanese automaker's new headquarters in Plano, TX, will add an estimated $7.2 billion to the state over the next 10 years, according to a new study commissioned by the city and cited by Bloomberg.
The benefits appear to be an absolute steal compared to the direct incentives that Plano and the state are giving Toyota. The report finds that by the time the automaker's campus is complete in 2018, it could have 3,650 full-time workers there at an average salary of $104,000. The city has prepared $6.75 million in grants, plus property tax discounts, according to Bloomberg. In addition to that, the state is offering the business $40 million in incentives from its Texas Enterprise Fund. This is still a fraction of what Toyota is estimated to bring in.
Toyota announced in April that it would move its US operations to Plano after being headquartered in California since 1957. The move affects thousands of employees from the sales and engineering divisions. The first workers will arrive there this fall, but Toyota will eventually have a whole campus in Plano by late 2017. The move is expected to save it huge amounts in taxation and offer employees a lower cost of living. Toyota North America CEO Jim Lentz also says that the Texas location puts the headquarters closer to more of the business' factories in the south. Texas certainly appears to be showing it some southern hospitality.

Scion was slain by Toyota, not the Great Recession

Scion didn't have to go down like this. Through the magic of hindsight and hubris, it's easier to see what went wrong. And what might have been. What the industry should understand is this: Scion wasn't a losing proposition from the get-go. Its death is due to negligence and apathy. This is more than just the failure of a sub-brand. It's the failure of a company to deliver new and compelling products over an extended period of time. Toyota will point to the Great Recession as the reason it hedged its bets and withdrew funding for new vehicles, instead of using that as an opportunity to redouble efforts. This was as good as a death warrant, although myopically no one realized it at the time. Sadly, GM's Saturn experiment was a road map for this exact form of failure. No one at Toyota seemed to think the Saturn experience was worth protecting their experimental brand from. Or they weren't heard. Brands live and die on product. Somehow, Scion convinced itself that its real success metric was a youthful demographic of buyers. It seems like this was used to gauge the overall health of the brand. Look at the aging and uncompetitive tC, which Scion proudly noted had a 29-year-old average buyer. That fails to take into account its lack of curb appeal and flagging sales. Who cares if the declining number of people buying your cars are younger? Toyota is going to kill the tC thirteen years [And two indifferent generations ... - Ed.] after it was introduced. In that time, Honda has come out with three entirely new generations of the Civic. Scion wasn't a losing proposition from the get-go. Its death is due to negligence and apathy. At launch, the brand could have gone a few different ways. The xB was plucky, interesting, and useful – a tough mix of ephemeral characteristics – but the xA didn't offer much except a thin veneer of self-consciously applied attitude. That's ok; it was cute. Enter the tC, which managed to combine sporty pretensions with decent cost. It took on the Civic Coupe in the contest for coolness, and usually managed to win. More importantly, an explicit brand value early on was a desire to avoid second generations of any of its models, promising a continually evolving and fresh lineup. At this point, the road splits. Down one lane lies the Scion that could have been. After a short but reasonable product lifecycle, it would have renewed the entire lineup.

BMW could have a fuel cell vehicle by 2020

The Ultimate Driving Machine may start emitting water vapor, which may not thrill gearheads but could be good for the environment. BMW may have a hydrogen fuel-cell electric vehicle to sell as soon as the end of the decade, UK's Auto Express says, citing people familiar with the process that it didn't identify. And the model will likely be sold within the i sub-brand that includes the i3 electric vehicle and the i8 plug-in hybrid. "We are working on fuel cell development, but we are not able to comment on vehicle plans at this stage or timing at this point," BMW spokesman Dave Buchko wrote in an e-mail to AutoblogGreen on Thursday. Chatter about a potential BMW fuel-cell vehicle has been getting louder in recent months. Late last year, Autocar reported that BMW was mulling using Toyota's fuel-cell system for a version of what would be called the i5 (all the better to quietly cruise the interstate running up and down the West Coast, we guess). BMW and Toyota have been working together on accelerating the development of fuel-cell technology since 2013. Toyota has since made good on the effort of selling fuel-cell vehicles by introducing the Mirai in Japan last year and is preparing to start sales in California later this year. But BMW has been mum, so far. Featured Gallery 2014 BMW i3: First Drive View 33 Photos News Source: Auto Express via Hybrid CarsImage Credit: Copyright 2015 Sebastian Blanco / AOL Green BMW Toyota Hydrogen Cars i5