Toyota Pledges Up to $10 Billion in US Operations Investment

Toyota Motor Corp. confirmed it will plow as much as $10 billion into the US over the next five years to boost its local operations, less than a month after President Donald Trump flagged that the Japanese carmaker planned such an investment.

The announcement clears up a confusing moment from Trump’s visit to Tokyo last month, when he said Toyota would build plants all over the US “to the tune of over $10 billion.” At the time, the automaker wouldn’t confirm such a plan, calling it mere speculation.