Toyota is reportedly considering investing another $400M into its San Antonio, Texas plant setting it up to potentially produce different types of vehicles and more vehicles overall like more Tundra pickups.
According to BizJournals.com, the investment was announced at meetings with both the city of San Antonio and Bexar County considering incentive packages for the potential investment. This investment would be the largest in the region in years.
San Antonio’s Mayor Ron Nirenberg said they will vote on its incentive package on May 30.
“Toyota is one of the world’s most innovative companies and is a champion of San Antonio’s workforce and community development,” Nirenberg said to BizJournals.
While there are no official details from Toyota rumors have been circulating the investment will focus on adding new technology and would result in expansions for Toyota suppliers.
In another article for the San Antonio Express-News, Rene Dominguez, director of the city’s Economic Development Department, laid out the investment and the city’s proposed incentives to the City Council members.
“With this investment, TMMTX would add next-generation, state of the art technology that is not currently utilized in the Americas to its existing production lines, creating greater flexibility to produce additional vehicle models,” Dominguez wrote.
While Toyota has expanded the Baja California plant to build more Tacoma pickups and a new plant for additional Tacoma production is planned for Guanajuato, Mexico, San Antonio’s Mayor Marquez said he still thinks there is room for growth.
“We have an amazing plant site, a great workforce and amazing skilled talent programs,” Marquez said.
“Toyota will not leave that asset sitting there forever,” Marquez told the BizJournal reporters earlier this year. “One day, we will have a second production line. We’re ready to help make that happen.”
Our guess is the additional plant improvement would then go for the Tundra and/or it would clear the way for the Sequoia to move from Princeton, Indiana plant.