Toyota spending almost $500 million to upgrade its Indiana assembly plant
By Andrew C., 26 Aug, 2010. 0 Comments
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Toyota Motor Corp. confirmed today it is spending nearly $500 million to upgrade its Indiana SUV assembly plant.The world's biggest automaker approved the investment of 44.9 billion yen, or $467.2 million at current exchange rates, last year, spokesman Paul Nolasco said. The revamp will be completed in the next three months, he said. Nolasco could not confirm the details of the overhaul. But Bloomberg News reported late Sunday that Toyota was retooling to build the Highlander and Sequoia SUVs on the same line.Toyota announced last year that it would build the Highlander in Indiana, scrubbing plans to build that model at a new factory slated for Mississippi. At the same time, Toyota consolidated production of the Tundra pickup in Texas. The Indiana plant had been making the Tundra, in addition to the Sequoia SUV and Sienna minivan.
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