The $800 million truck

Toyota is to build a vehicle production plant in San Antonio, Texas at a cost of $800 million. The new facility will employ about 2,000 people when it starts up in 2006.

Toyota is to build a vehicle production plant in San Antonio, Texas. The plant will be the company’s sixth vehicle production plant in North America. It will build about 150,000 Tundra pickup trucks a year from 2006 onwards.

Plans include an investment of approximately $800 million and employment for about 2,000 people. When the plant starts up, Toyota North American production capacity is expected to reach around 1.65 million units a year.

According to a report in the Miami Herald, the truck assembly plant is expected to add 2.4 billion dollars to the Texas economy over the next decade.

Toyota nearly doubled its earnings for the latest quarter, compared with a year ago. Profits for the October-December period totalled 216 billion yen ($1.8 billion), up nearly 94% from 111 billion yen the same period in fiscal 2001.