Toyota investing $1.33 billion in Kentucky plantApril 10, 2017 - 18:35 AMT PanARMENIAN.Net - Japanese automaker Toyota Motor Corp said it is spending $1.33 billion in its Kentucky plant as part of a plan to invest $10 billion in the United States over the next five years, Reuters revealed. The investment in the plant, Toyota's largest, comes amid uncertainty over U.S. President Donald Trump's trade policies that could affect certain Japanese firms' capital expenditure plans. Trump criticized the automaker earlier this year and said he would impose a hefty fee if it built its Corolla cars for the U.S. market at a plant in Mexico. Toyota joins a host of automakers including Fiat Chrysler Automobiles, Honda Motor Co and Daimler AG that have announced investments in the United States since Trump won the U.S. election. Even U.S. car manufacturers Ford Motor Co and General Motors have announced plans to spend more domestically. "Toyota's decision to invest $1.3 billion in their Kentucky plant is further evidence that manufacturers are now confident that the economic climate has greatly improved under my administration", Trump said in the statement issued by Toyota. Toyota said that the investment would help in its new production process that would allow for a more flexible production environment, helping its build better cars and respond quicker to customers. The Kentucky plant employs about 8,200 workers and Toyota recently booted the count by more than 700 ahead of the launch of the new version of Camry. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |