TRUMP will be sworn into office in 9 nine days! Even though he’s not president yet, companies around the world are acting as if he is. He’s creating more jobs so far as president-elect, than Obama has in his 8 years. LOL! (VIDEO BELOW)
According to Fox Business, Toyota Motor North America chief executive Jim Lentz said on Monday, the Japanese automaker will spend $10 billion in U.S. capital investments over the next five years, matching its investments over the prior five years.
( SEE VIDEO BELOW)
Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.
— Donald J. Trump (@realDonaldTrump) January 5, 2017
- The biggest automaker in the world, Toyota Motor, has revealed its plans to invest billions of dollars in the United States, as President-elect Donald Trump continues to pressure foreign companies to keep production in the country or bring it back.
Korean companies such as Samsung and LG are also exploring the possibility of building plants in the U.S.
- Toyota will spend ten billion dollars in U.S. capital investments over the next five years, which amounts to the automaker’s investments during the previous five years.
- At the North American International Auto Show in Detroit on Monday, Toyota’s North America Chief Executive Jim Lentz said the decision was made in order to meet demand, and upgrade plants to build more fuel-efficient models.
- Toyota has come under fire from President-elect Donald Trump for its plans to shift the production of its Corolla to Mexico.
Lentz said the decision was not in response to Trump’s recent tweets, but was part of Toyota’s business strategy to invest in the United States, where it has ten plants in eight states.
- The ten billion dollar investment includes the Japanese automaker’s new North American headquarters in Texas, which is under construction and big improvements to its plants.
Lentz said Toyota plans to expand some of its U.S. plants over the next five years, but declined to say if that would boost jobs.
In Korea, the country’s major electronics companies are looking to build respective factories in the United States as well.
- On Sunday, LG Electronics CEO Jo Seong-jin confirmed that the company is in the process of deciding whether to build a home appliance manufacturing plant in the United States, especially looking into how much of its production process should be moved to the U.S.
- A spokesman for Samsung Electronics also said the company needs to do something following Trump’s “Made in America” pledge.
He said Samsung is considering building a new manufacturing base in the U.S., adding that they are narrowing the list of candidate locations for the new site.