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Toyota offered $146.5 million to build Lexus ES in Kentucky

Toyota posted a media advisory yesterday saying that Akio Toyoda, president of Toyota, and Jim Lentz, CEO of Toyota North America, would be making a production announcement tomorrow in New York City, and Automotive News reports that the automaker will be announcing a plan to domestically produce the Lexus ES. According to the report, numerous plants are competing to build the ES in North America, and the State of Kentucky has offered the automaker up to $146.5 million to build the luxury sedan at the Georgetown, KY assembly plant.
If Georgetown gets the ES, which has been built in Japan since its debut in 1989, it would be built alongside the Toyota Camry, which is somewhat ironic since in our review of the 2013 Lexus ES350, we wrote that this ES finally says "goodbye to its Camry roots." In order to get the whole amount offered, the article states that Toyota would have to invest $531.2 million and hire 570 full-time workers at the plant, which doesn't sound all that unreasonable since the plant would require an additional 50,000 units of annual production, not to mention the fact that the Georgetown facility is already at its capacity for building the Camry.

Toyota reports huge quarterly profit increase, raises forecast for the year

Toyota isn't just the world's largest automaker - so far its the biggest winner for quarterly profits. With an enormous $5.5 billion take during Q2, Toyota took advantage of the weak Japanese yen and strong US demand to record a 94-percent improvement in profit over the same period from last year. So far, Toyota brought in larger profits than Ford and General Motors combined.
Toyota is showing no signs of slowing down either, as it has bumped up its forecast for full-year global production, going from 9.94 million to 10.12 million vehicles, on the back of a 13-percent drop in the buying power of the Japanese yen versus the US dollar. That strong exchange rate is largely responsible for Toyota's big jump in profits, although it also managed to shift 1.3 million vehicles in the US market this year. Strong Camry sales have also helped. But while Toyota is raking in the cash, it actually saw a small drop in market share, down 0.1 percent to 14.3 percent of the US market.
As is the case with most automakers, Toyota seems flummoxed by Europe, where it recorded less than one percent of its revenue. Still, as Automotive News points out, Toyota only maintains a 4.5-percent market share in Europe and is far less dependent on the continent than other manufacturers. Toyota also struggled at home, much like Honda. With 525,777 units sold, JDM sales were down almost 51,000 units, although Toyota still saw its operating profit jump from $3.5 billion to $4.6 billion.

See how Toyota Mirai hydrogen fuel cell car is made [w/videos]

Toyota kicked off production of the Mirai hydrogen fuel cell sedan at its Motomachi factory campus in December, and at the time the company had orders for 200 of them. In just the few months since then, demand has already jumped to requests for at least 1,500 of the potentially revolutionary vehicles. For the first time, the Japanese brand is taking viewers into the innovative model's production process and showing the sedate pace of putting them together. The line used for the Mirai was formerly home to Lexus LFA production. Like that low-volume, cutting-edge supercar, Toyota is prioritizing quality and precision for its fuel cell vehicle. At the moment, it's building just three of the sedans per day with a tight, dedicated team. According to Automotive News, there are just 13 people assembling the cars right now, and at most they could only complete 10 per day. The production process for the Mirai is more akin to a boutique sportscar than the high-volume efficiency Toyota usually shows. There's no belt moving them along, and instead each one is pushed between areas. With so much riding on these models, this approach is meant to guarantee an attention to quality. "These facilities are not so advanced. Rather, we rely on the work of our skilled employees. This is similar to how things were when Toyota was just starting out," said Toyota President Akio Toyoda during a ceremony at the plant, according to Automotive News. Toyota has released a gallery of images and five videos showing the major steps in the Mirai's production process, including the complicated installation of the fuel cell stack. All of the clips are embedded below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.