Toyota Motor Corp., on Thursday announced it will invest around £100 million ($155m) in tooling and equipment at the Burnaston vehicle plant, where the automaker will build new generation C-segment hatchbacks.
This will take Toyota’s total investment in its UK manufacturing business to more than £2.1 billion since it was established as the company’s first European production centre in 1989. In addition, the Japanese automaker said further £85 million will be invested in the UK supply chain.
“This major announcement from Toyota is fantastic news and a massive vote of confidence for UK manufacturing” prime Minister David Cameron said.
“This investment and the jobs it will create provide a terrific boost not just to the local economy but to the whole country, and is a tribute to the great skill, hard work and sheer professionalism shown by the Toyota workforce. Toyota’s commitment to the UK shows the growing strength of the UK car industry – it is our great British success story” it said.
The new investment will increase safeguard current employment levels and create up to 1,500 additional jobs in the next two years, with the first phase of recruiting 500 members starting in the middle of next year.