Bob Carter, Toyota Motor Sales U.S.A. senior vice president of automotive operations, said the Japanese-based automaker will invest $28 million in its Toyota Technical Center operations in the Ann Arbor area to to develop engines and automatic transmissions for its North American vehicles.
Toyota will invest $28 million in its Toyota Technical Center operations in Ann Arbor to expand powertrain research and development.DETROIT- Toyota will invest nearly $30 to expand two research and development facilities in Michigan.
Bob Carter, Toyota Motor Sales U.S.A. senior vice president of automotive operations, said the Japanese-based automaker will invest $28 million in its Toyota Technical Center operations in the Ann Arbor area to to develop engines and automatic transmissions for its North American vehicles.
"We believe we are very well-positioned for another good year,” he said when announcing the investment during an Automotive Press Association meeting in downtown Detroit.
The investment, which will result in 60 new jobs, includes facility expansions and purchasing new equipment at two of its facilities in Ann Arbor Township at 1555 Woodbridge Ave. and 1588 Woodbridge Ave.
Officials did not immediately know when the expansions are scheduled to begin or a breakdown of how the investment is being split between the two facilities.
In a release, Michigan Gov. Rick Snyder touted the investment to show "Toyota's commitment” to the state.
"Toyota is a global leader in the automotive industry and its growth in Michigan is welcome news for all of us," Snyder said. "Toyota's commitment strongly signals that Michigan offers an improved climate for increased business investment. We welcome this very positive decision."
Bob CarterThe Toyota Technical Center, a division of Toyota’s engineering and manufacturing arm, was established in Michigan in 1977. TTC operates R&D facilities in Michigan are in or near Ann Arbor, Saline, Plymouth and Livonia. It also operates R&D facilities in California and the Toyota Arizona Proving Ground near Phoenix.
Toyota has invested about $2 billion in its North American manufacturing facilities, adding more than 4,000 new jobs in less than two year, according to officials.
During the meeting, Carter also discussed Toyota's plans for nine new or significantly updated models coming this year and how it plans to not only grow its hybrid sales, but the entire segment.
"We strongly believe hybrid will remain our core technology,” he said. “Our commitment to hybrids remains stronger than ever.”
Carter said the automaker plans to introduce more than 24 new or updated Toyota, Scion and Lexus hybrid models in the next two years, including a fuel cell hybrid by 2015.
Through August, Toyota's sales in the U.S. are up nearly 10 percent versus a year ago to more than 1.5 million cars and trucks sold, including 231,537 vehicles in August.
Check back to MLive for more information on Toyota from the APA meeting.