Toyota to Invest 120 B. Yen to Upgrade 2 Canada Plants

May 8, 2018

New York- Leading Japanese automaker Toyota Motor Corp. will invest 1.4 billion Canadian dollars, or 119 billion yen, to upgrade production facilities at its two plants in Ontario, Canada.

The investment will create 450 jobs, according to a recent announcement by the Canadian government, which supports Toyota's fresh capital expenditure.

Specifically, Toyota will revamp its Woodstock plant, which makes the RAV4 mainstay sport-utility vehicle, in line with the launch of a new model.

The company will also upgrade its Cambridge plant, which makes SUV models of its Lexus luxury brand.

Toyota has said it will transfer its Corolla production at the Cambridge plant to the United States, while boosting RAV4 production in Canada amid strong North American sales.

Toyota aims to improve its production efficiency by making Canada its SUV production hub in North America. Jiji Press