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Toyota Makes $391 Mln New Investment In Texas Truck Assembly Plant

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Toyota Motor Corp. (TM) announced plans to invest $391 million at its pickup truck assembly plant in San Antonio, Texas.

The investment is part of the Japanese automaker's plan to invest $13 billion in its U.S. operations over five years through 2021.

The company said the investment will be used to introduce advance manufacturing technologies at the plant and also to help with the development and education of the local workforce. Once complete, the plant's total investment will exceed $3 billion.

"We've been in the U.S. for more than 60 years, creating a tremendous value chain in this country and creating an extensive footprint in the Alamo City since 2003," said Chris Reynolds, Toyota Motor North America chief administrative officer of manufacturing and corporate resources. "With 10 U.S. plants, 1,500-strong dealer network, an extensive supply chain and other operations, we directly and indirectly employ over 475,000 Americans and are committed to investing here."

Toyota's San Antonio truck plant assembles the full-size Tundra and mid-size Tacoma pickup trucks. The facility directly employs more than 3,200 team members. Including its 23 on-site suppliers, total employment at the plant's site tops 7,200.

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