TOKYO (dpa-AFX) - Toyota Motor Corp. , Wednesday announced Toyota West Virginia's plan to invest $88 million to assemble the next generation of hybrid transaxles, showing the company's commitment towards providing customers with a variety of drivetrain options.
Scheduled to commence production in late 2026, the drivetrain component is estimated to help power future North American-assembled Toyota and Lexus models.
With this investment, the automaker's total investment in the plant will stand at more than $2.8 billion along with employment opportunities to over 2,000 workers.
Additionally, Toyota West Virginia is donating $100,000 to the Marshall Advanced Manufacturing Center at Marshall University to support the center's workforce development program.
Currently, Toyota's stock is trading at $182.61, up 2.19 percent on the New York Stock Exchange.
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