Toyota invests US$170m in Mississippi plant
During a ceremony for Toyota Mississippi's new visitor and training centre, the company announced that it would invest US$170 million to build the 12th generation Corolla using Toyota New Global Architecture (TNGA). The TNGA investment enables the assembly plant to stay competitive globally, it said.
"We will be able to respond quicker and be more flexible in meeting market demands down the road," said Toyota Mississippi President, Sean Suggs. "I'm very proud of our team members and the partnerships we have developed across the state."
Sean Suggs, President, Toyota Mississippi
The implementation of TNGA, along with an overall increase in production, will create 400 new jobs over the next 12 months. This investment directly supports Toyota's plan to invest US$10 billion in its U.S. facilities over the next five years. This investment brings the company to US$4.27 billion of new investment in the U.S. since the commitment was announced in 2017. Toyota's total investment in the U.S. over the past 60 years is US$25 billion.
The U$170 million investment in the Mississippi assembly plant will include a complete replacement of the current production lines, allowing the facility to produce advanced vehicles more efficiently and better adapt to changing market needs. TNGA is a new approach to the way Toyota designs, engineers and produces its vehicles.
TNGA improves performance of all models and shortens the development cycle for vehicle improvements and new vehicles by providing a more flexible production environment. This new announcement brings Toyota's investment in this facility to more than US$1 billion since 2007.
Toyota will work with its hiring partner, ResourceMFG, to hire 400 team members to meet the growing demand for the Toyota Corolla.
Subscribe to International Sheet Metal Review to receive 10 magazines per year, packed with the very latest industry news and product reviews.