💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Toyota president met Pence in Washington, company says

Published 01/11/2017, 10:49 PM
© Reuters. Toyota's Toyoda speaks during the North American International Auto Show in Detroit
TM
-

TOKYO (Reuters) - Toyota Motor Corp (T:7203) on Thursday said that company President Akio Toyoda met with U.S. Vice President-elect Mike Pence in Washington earlier this week as the incoming U.S. administration pressures automakers to build more cars locally.

A Toyota spokeswoman said that Toyoda met with Pence on Tuesday, a day after the Japanese automaker said it would invest $10 billion in the United States over the next five years, the same amount it invested in the previous five years.

She added that there were no plans at the moment for Toyoda to meet with U.S. President-elect Trump.

While Toyota declined to comment on details of the meeting, Toyota's North America Chief Executive Jim Lentz told Reuters earlier this week that the company was focused on reminding policymakers in Washington about the automaker's extensive U.S. manufacturing operations.

Pence served as governor of Indiana, where Toyota has an assembly plant, one of 10 manufacturing facilities in the country.

© Reuters. Toyota's Toyoda speaks during the North American International Auto Show in Detroit

Last week, U.S. President-elect Donald Trump said Toyota could be subject to a "big border tax" if it builds its Corolla cars for the U.S. market at a planned factory in Mexico. Trump has been criticizing automakers who manufacture cars in Mexico, a growing production hub.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.