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00:02Toyota Motor said Monday it will invest $1 billion in two U.S. plants as part of a plan
00:07to spend up to $10 billion domestically over the next five years, according to CNBC.
00:13The automaker will invest $800 million in Georgetown, Kentucky,
00:17to increase production of the Camry sedan and RAV4 crossover.
00:21It will invest $200 million in Princeton, Indiana, to expand capacity for the Grand Highlander SUV.
00:28Toyota confirmed in November it plans to invest up to $10 billion in U.S. plants through 2030
00:34after Trump referenced the investment.
00:36Toyota said its U.S. investment reflects a long-term strategy of producing vehicles
00:40where they are sold and sourcing locally where production occurs.
00:44Toyota chair Akio Toyoda has sought to build relations with Trump.
00:48The company also became the first Japanese automaker to commit to exporting U.S.-produced vehicles to Japan.
00:54For all things money, visit Benzinga.com.
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