Toyota invests in N. America, expects hybrid domination

Apr 01, 2013 | 02:08 PM | Corinna Petry

Tags  Toyota Motor Sales USA, Jim Lentz, North American manufacturing capacity expansion, hybrid vehicles, electric vehicles, Corinna Petry

CHICAGO — Toyota Motor Corp. has expanded its North American manufacturing footprint over the past year to boost capacity and increase exports, and an executive said it is preparing to dominate the hybrid market.

The automaker is spending $1.5 billion to open new manufacturing plants and expand existing ones, Toyota Motor Sales USA Inc. president and chief executive officer James E. Lentz said at Bank of America Merrill Lynch & Co. Inc.’s 2013 New York Auto Summit.

Toyota operates 14 plants in North America, producing 70 percent of the company’s vehicles sold here.....

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