Toyota Heading to Texas
It looks as if Toyota Motor Corp. is heading to the Lone Star State.
The company is moving its U.S. sales headquarters from Torrance, Calif., to suburban Dallas, according to a report from Reuters.
Toyota Financial Services is part of the move, according to the report. In addition, the new Texas headquarters is expected to house at least three subsidiaries, including Toyota Motor Sales USA and Toyota Engineering and Manufacturing North America. The move will begin in August and will take place in stages through the end of 2016.
Toyota currently employs 5,300 in California. It’s not clear how many of those jobs will be relocated, although The Dallas Morning News said the company is negotiating to buy an office site in Legacy business park in Plano where it would locate more than 4,000 workers.
That report also said Toyota plans to seek incentives from the City of Plano and the State of Texas for the move.
Other news reports have said that employees will be briefed on details of the move during a Monday webcast. Auto Finance News will update the story as details become available.
