[Example of Overseas Expansion in West Virginia, USA] Toyota Motor Corporation (Japan)
The new Camry and Corolla Cross are equipped with it! Investment in engine and drivetrain components, etc.
Toyota Motor Corporation (Japan) has started production at its fifth-generation hybrid transaxle factory. The investment amount for engine and drivetrain components for the North American business is \$2 billion, and the investment for the assembly of the new transaxle exceeds \$300 million (included in the plans announced in 2021 and 2022). The vehicles equipped with this technology are the new Camry and Corolla Cross. [Summary of the case] ■ Investment amount for engine and drivetrain components for the North American business: \$2 billion ■ Investment amount for the assembly of the new transaxle: over \$300 million ■ Equipped vehicles: new Camry, Corolla Cross *For more details, please refer to the PDF document or feel free to contact us.
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The West Virginia Government Office in Japan is an overseas office of the International Division of the West Virginia Department of Economic Development. West Virginia is located in the eastern United States, surrounded by five states, including major cities like Washington D.C. and Pittsburgh, and is known for its strong manufacturing sector. The main characteristics of West Virginia are as follows: - Low industrial electricity and gas rates (due to coal, natural gas, and shale gas-fired power generation, as well as having one of the largest wind farms in the East and being home to the Appalachian Hydrogen Hub in Morgantown). - One of the largest wind farms in the eastern United States, advantageous for the use of green energy. - Excellent access to the large market in the eastern United States and a logistics hub. - High retention rates (ranked first in the nation for low manufacturing turnover rates according to the U.S. Department of Labor's Bureau of Labor Statistics). - Resilience to natural disasters (the terrain, which is largely covered by the gently sloping Appalachian Mountains, has solid bedrock, making it less susceptible to earthquakes, hurricanes, and tornadoes). Particularly active industries include chemicals, automotive parts, aerospace and defense, steel, metal processing, building materials, and IT, with recent growth in the EV and battery industries.
