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Toyota raises US investment by $3bn as tariffs loom

Automaker's expansion plan through 2021 adds capacity across five states

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.

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