Toyota planning to setup a sport utility vehicle assembly plant in Mississippi

Nikkei business daily has reported in a news item that the Japanese automaker Toyota is considering setting up a sport utility vehicle assembly plant in Mississippi.

The report further claimed that the company is likely to invest some 100 billion yen on this plant.

This plant if setup would be Toyota’s eighth vehicle assembly factory in North America. It is expected to have an annual production capacity of 150,000 units and would come on line in 2009.

The company is currently the second largest automaker in the world and could possibly overtake General Motors this year.

Toyota had said in the past that they are considering expanding its U.S. manufacturing capacity and was reviewing locations.

The company responded to this rumor in the market saying that no decisions had been made on such a move.

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