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Toyota spending nearly $500 million to retool Indiana plant

Posted Monday, Jul 6, 2009, 11:55 am in Employee News

Toyota Motor Corp. confirmed today it is spending nearly $500 million to upgrade its Indiana SUV assembly plant, the Automotive News reported.

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 told the paper. 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, the paper said. (Automotive News)
 
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