Japanese automotive giant Toyota Motor Corp. (TM) is spending $3.6 billion U.S. to move production of its Tacoma pick-up truck to America from Mexico.
Toyota said that it plans to move Tacoma production to its manufacturing campus in San Antonio, Texas from Tijuana, Mexico.
The move is expected to create 2,000 U.S. jobs at the Texas facility, add a second vehicle assembly line, and double the size of the 2.7-million-square-foot San Antonio plant by 2030.
The shift in production from Mexico is part of Toyota’s plan to invest up to $10 billion U.S. in America through 2030.
The shift in vehicle production to the U.S. also comes a week after the Trump administration said that it will not extend its North American free trade pact with Canada and Mexico.
Toyota’s Texas campus currently produces the Toyota Tundra pick-up truck, including a hybrid version, as well as the Toyota Sequoia SUV.
Toyota, which currently employs 48,000 people in the U.S., says that it has invested $8.3 billion U.S. in the San Antonio plant since its groundbreaking in 2003.
TM stock has declined 18% this year to trade at $179.80 U.S. per share.
