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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.

Tougher than steel: Wood pulp could make lighter auto parts

KYOTO, Japan — The global push among carmakers to make ever lighter vehicles is leading some auto suppliers in Japan to turn to what seems like an unlikely steel substitute — wood pulp. Japanese researchers and auto component makers say a material made from wood pulp weighs just one-fifth of steel and can be five times stronger. The material - cellulose nanofibers — could become a viable alternative to steel in the decades ahead, they say, although it faces competition from carbon-based materials, and remains a long way from being commercially viable.> Related: Jay Leno drives the Renew cannabis car — hemp you can't dent Reducing the weight of a vehicle will be critical as manufacturers move to bring electric cars into the mainstream. Batteries are an expensive but vital component, so a reduction in car weight will mean fewer batteries will be needed to power the vehicle, saving on costs. "Lightweighting is a constant issue for us," said Masanori Matsushiro, a project manager overseeing body design at Toyota. "But we also have to resolve the issue of high manufacturing costs before we see an increased use of new, lighter-weight materials in mass-volume cars."A NEW PROCESS Researchers at Kyoto University and major parts suppliers such as Denso Corp, Toyota's biggest supplier, and DaikyoNishikawa Corp, are working with plastics incorporated with cellulose nanofibers — made by breaking down wood pulp fibers into several hundredths of a micron (one thousandth of a millimeter). Cellulose nanofibers have been used in a variety of products ranging from ink to transparent displays, but their potential use in cars has been enabled by the "Kyoto Process," under which chemically treated wood fibers are kneaded into plastics while simultaneously being broken down into nanofibers, slashing the cost of production to roughly one-fifth that of other processes. "This is the lowest-cost, highest-performance application for cellulose nanofibers, and that's why we're focusing on its use in auto and aircraft parts," Kyoto University Professor Hiroaki Yano, who is leading the research, told Reuters in an interview. The university, along with auto parts suppliers, are currently developing a prototype car using cellulose nanofiber-based parts to be completed in 2020.

2017 North American Car, Truck, and Utility of the Year entries announced

Over 40 vehicles will compete for the 2017 North American Car, Truck, and Utility of the Year awards. If that name looks a little strange, it's because the competition added a third category. In years past, pickup trucks, crossovers, SUVs, commercial vans, and minivans competed for the same award. That's why there were occasionally weird comparisons, like last year's competition between the Volvo XC90 and Nissan Titan XD. The new format separates pickups and commercial vans into the truck contest and CUVs, SUVs, and minivans into the utility competition. A complete list of eligible vehicles is below, but here are a few highlights. For one, the entire list of entries has a luxurious lean. Of the 43 vehicles, nearly half of them are from premium brands. There are two eligible Bentleys – the Bentayga and Mulsanne – the Rolls-Royce Dawn, Jaguar F-Pace, Audi Q7, and the Mercedes-Benz GLS-, E-, and S-Class Maybach. The performance ranks are lofty, too, with the Audi R8, Acura NSX, Alfa Romeo Giulia, Mercedes SL- and SLC-Class, Porsche 718, and F-150 Raptor. The mainstream entries are just as comprehensive. From the Chrysler Pacifica to the Chevrolet Cruze to the Fiat 124 Spider to the Mitsubishi Mirage, NACTOY has covered an enormous price range with this year's contestants. Of course, these are only the eligible vehicles. They'll need to run through three rounds of judging, starting in September at NACTOY's traditional Hell, MI, test drive. The Canadian and American journalists involved in the judging will announce this year's nine finalists – three in each category – on December 6. Cars Acura NSX Alfa Romeo Giulia Audi A4 Audi R8 Bentley Mulsanne Buick Cascada Buick LaCrosse Cadillac CT6 Chevrolet Bolt Chevrolet Cruze Fiat 124 Genesis G90 Hyundai Elantra Infiniti Q60 Jaguar XE Kia Cadenza Lincoln Continental Mercedes-Benz E-Class sedan Mercedes-Benz S550 Maybach Mercedes-Benz SL-Class Mercedes-Benz SLC-Class Mini Clubman Mitsubishi Mirage/G4 Porsche 718 Boxster and Cayman Rolls-Royce Dawn Toyota Prius Prime Volvo S90 SUVs Audi Q7 Bentley Bentayga Buick Envision Cadillac XT5 Chrysler Pacifica GMC Acadia Infiniti QX30 Kia Sportage Mercedes-Benz GLS-Class Jaguar F-Pace Mazda CX-9 Nissan Armada Trucks Ford F-Series Super Duty pickups Ford F-150 Raptor Honda Ridgeline Nissan Titan half-ton Related Video: Featured Gallery Bentley Bentayga View 23 Photos News Source: Automotive News - sub.