Toyota to Build V8 Engines in Alabama

    HUNTSVILLE, Ala., Feb. 6 Toyota announced today that it
has selected a 200-acre site in Huntsville, Alabama for its newest engine
plant in North America.
    The plant will machine and assemble V8 engines for Toyota's full-size
Tundra pickup truck, which is made exclusively in Princeton, Ind.  The
Huntsville plant will be Toyota's first outside of Japan to manufacture V8
engines.
    The new plant will have an annual production capacity of 120,000 units and
represent a $220 million investment by Toyota.  The company said the facility
is expected to bring 350 new jobs to Alabama and indirectly create work for
many more.  Toyota plans to begin producing the V8s at the new plant in the
summer of 2003.
    Alabama Governor Don Siegelman, speaking at the news conference at
Huntsville's J.O. Johnson High School, welcomed Toyota's decision to set up
shop in Alabama.
    "The partnership between Toyota and Alabama provides hope and dreams of a
better quality of life to Alabama families," said Governor Siegelman.  "Toyota
brings to Alabama not only its international reputation as a first class
manufacturer of automobiles, but it also brings high-skilled and high-paying
jobs to Alabamians.
    "I am pleased that this fine company has joined Alabama in setting the
pace as a new leader in the automotive manufacturing sector in this region, in
our nation and around the world," the Governor added.
    Toyota Motor Corporation President, Fujio Cho, joined Governor Siegleman
at the announcement and helped deliver the good news.
    "Toyota appreciates the opportunity to do business in your state," said
Cho.  "We know we will find people of the highest caliber here, who have the
skills, the intelligence and the enthusiasm to become a successful Toyota
team."
    Toyota is the first company to announce its decision to locate in the
North Huntsville Industrial Park.  The City of Huntsville purchased the
400-acre plot in April 1999 and plans to continue to draw industry to the
northwest part of the city.
    The plant is the latest addition to Toyota's increasing manufacturing
investment in the U.S. and Canada.  By 2003, the automaker will have capacity
to build 1.45 million cars and trucks a year, and 1.16 million engines.
    Toyota currently has three engine plants in North America.  Toyota Motor
Manufacturing, West Virginia, Inc. and Toyota Motor Manufacturing, Kentucky,
Inc. both produce four-cylinder and V6 engines.  Also, its plant in Ontario,
Toyota Motor Manufacturing Canada, Inc., assembles four-cylinder engines.
    By 2003, Toyota will employ some 33,000 people throughout North America.
With today's announcement, the company's direct investment tops $13 billion
with annual parts and materials purchases from North American suppliers
totaling over $11 billion.  Toyota's North American-produced vehicles include
the Camry, Avalon, Sienna, Solara, Sequoia, Corolla, Tundra, and Tacoma.  The
new Matrix, just unveiled at the Detroit auto show, will join the North
American-built lineup in 2002, and beginning in the fall of 2003, the Lexus
RX300 will also be produced here.