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Toyota building U.S. truck plant
TOKYO, Japan (CNN) -- Toyota Motor Corp. will spend $800 million to build a car-assembly plant in the United States. The San Antonio, Texas, factory will be the sixth in North America for Japan's largest carmaker. The plant is due to start production in 2006, the company said Wednesday, and will assemble 150,000 of Toyota's Tundra pickup trucks a year. That will boost the company's total capacity in North America to 1.65 million vehicles a year, from 1.25 million now. Japanese carmakers are ramping up production in the United States, which has remained a strong car market despite the country's economic slump. Competitors also expanding truck outputHonda Motor is doubling capacity at its light-truck plant in Alabama to 300,000 trucks a year by 2004. Nissan Motor Co. also plans to start making its Titan pickups at a factory in Mississippi this year. Toyota is due to open its fifth North American plant in Tijuana, Mexico, in 2005. That will make 20,000 small pickups each year. The company already has three car-assembly operations in the United States and one in Canada, as well as a U.S. joint venture plant with General Motors Corp. Toyota shares are down 0.17 percent to 2,970 yen on Wednesday afternoon, as the company prepares to announce earnings. That is despite a 0.76 percent gain in the Nikkei average.
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