Mary Barra, chairman and CEO of General Motors, discusses the impact of auto tariffs and building the business on “The Claman Countdown.”
Toyota’s CEO went full MAGA this weekend at a red, white and blue NASCAR event in Japan, ahead of a major announcement to increase investment in U.S. manufacturing.
Akio Toyoda was spotted at Toyota’s Fuji Speedway on Sunday wearing a “Make America Great Again” cap and a T-shirt supporting President Donald Trump and Vice President JD Vance.
In the crowd, spectators waved American flags and the U.S. Ambassador to Japan, George Glass, appeared.
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“I’m not here to argue whether tariffs are good or bad. Every national leader wants to protect their own industry,” Toyoda, a racer and car enthusiast, said before the endurance race, according to Automotive News.
“We’re exploring ways to make rates a winner for everyone. The people we most want to be winners are our customers,” he added.
Earlier this month, the automaker said it would invest $10 billion in the U.S. in “future mobility efforts,” weeks after Trump made a similar statement during a visit to Japan.
On Tuesday, Toyota announced a nearly $1 billion investment in U.S. manufacturing to increase production of hybrid vehicles.
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Close-up of logo sign on the facade of the building at the San Francisco regional headquarters of automotive company Toyota in the Bishop Ranch office park in San Ramon, California. ((Photo by Smith Collection/Gado/Getty Images) / Getty Images)
“Customers are embracing Toyota hybrid vehicles, and our U.S. manufacturing teams are gearing up to meet that growing demand,” said Kevin Voelkel, senior vice president of manufacturing operations for Toyota Motor North America, in a news release.
“Toyota’s philosophy is to build where we sell, and by adding more American jobs and investing in our American footprint, we are staying true to that philosophy,” he added.
Of its investments in the U.S., Toyota will invest $453 million at its Buffalo, W. Va., plant to increase production of hybrid-compatible four-cylinder engines.
President Donald Trump listens as first lady Melania Trump speaks during a signing ceremony for the ‘Fostering the Future’ executive order in the East Room of the White House on November 13 in Washington, DC (Getty Images)
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Another $204 million will go to the Kentucky plant to ramp up production of hybrid-compatible four-cylinder engines.
