NAGOYA, Japan -- Toyota Motor plans to invest nearly $13 billion in the U.S. over the five years through 2021, $3 billion more than previously pledged, as it boosts production there in a nod to President Donald Trump's push to boost American manufacturing.
The Japanese automaker is pouring $750 million into facilities across five U.S. states as part of the plan, announced Thursday U.S. time, in a bid to produce more components and hybrid vehicles in the country to avoid tariffs of up to 25% under the revised North American Free Trade Agreement.
