Toyota has announced it will build a new plant in Alabama. Right to Work states like Alabama are popular destinations for automakers who want to build cars in the United States without the negative influences of the UAW. the Wall Street Journal’s Adrienne Roberts reports:
Toyota Motor Corp. TM +0.13% on Thursday raised its planned investment in its U.S. operations through 2021 by about a third to nearly $13 billion to build more models and parts in the country, a move that comes as the Trump administration considers imposing tariffs of up to 25% on auto imports.
The Japanese auto maker said the spending would go toward adding production of two new hybrid vehicles in the U.S. and expanding plants that build engines, axles and other vehicle components. The additional investment is projected to create 600 new jobs.
President Trump praised Toyota’s plans in a tweet—“BIG NEWS for U.S. Auto Workers!”—and said the investment was evidence that a trade agreement hammered out last year between the U.S., Canada and Mexico is fixing what he described as a “broken NAFTA deal.”
Compared with the North American Free Trade Agreement, the pending trade pact would require a greater portion of a car to be built in the region to qualify for free trade. It also includes a provision on workers’ wages that could tilt some automotive manufacturing toward the U.S. …
Toyota is building a $1.6 billion assembly plant with Mazda Motor Corp. in Huntsville, Ala., a move Mr. Trump has praised. The plant, whose production will include the Corolla sedan, is scheduled to go into operation in 2021. Toyota is also stepping up production at an Alabama plant that makes engines for popular vehicles such as the RAV4 and Highlander SUVs.
Read more here.
Read more about Right to Work here:
- National Right to Work Could Help States That Can’t Help Themselves
- Right to Work South Carolina is Flooded in Jobs
- Thankful Missouri Citizens Now Have the Right to Work
- The Clear Value of the Right-to-Work
- Corporations Shower Right-to-Work Kentucky with Investment
E.J. Smith - Your Survival Guy
Latest posts by E.J. Smith - Your Survival Guy (see all)
- Investing Habits of the Fairly Wealthy: #10 Powerball - September 29, 2023
- Your Survival Guy: “Life on Main Street Hasn’t Been This Hard in a While” - September 29, 2023
- Your Retirement Life: Striped Bass Fishing off Block Island - September 29, 2023
- “Then One Day the Grandfather was Gone” - September 28, 2023
- How Joe Biden Raised Oil Prices - September 28, 2023