Market Chatter: Toyota Motor Moves to Build Manufacturing Facility in US; Shares Down 4%

MT Newswires Live05-18

Toyota Motor (TYO:7203) has submitted an application to build a new manufacturing facility located in Texas, US, according to a report by Bloomberg on Monday.

The move is part of the company's strategy following US President, Donald Trump's strategy to force carmakers to increase local production, the report said.

Total investment for the facility would be around $2 billion, the report added, citing a filing submitted to the Texas Comptroller of Public Accounts on Friday.

Once complete, the factory will create 2,000 new jobs and expand the company's presence in the region, the report noted.

Shares of the automobile manufacturer were down over 4% in Monday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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