Toyota Motor Corporation confirms it will invest up to $10 billion in the United States.

Toyota Motor Corporation has confirmed that it will invest up to $10 billion in the United States over the next five years to promote its local business development. Just under a month ago, US President Donald Trump mentioned that the Japanese automaker plans to make such investments. Trump said last month during his visit to Japan that Toyota plans to build factories across the US with a total investment exceeding $10 billion; Toyota did not confirm this plan at the time and said it was purely speculation. Toyota's latest statement finally clears up the confusion surrounding this issue. Toyota did not provide more details on how the funds will be used. Toyota's US sales chief, David Christ, said it will be announced in the future. Christ told reporters at the opening ceremony of a new battery plant in North Carolina on Wednesday, "As the investments approach, we will announce this $10 billion investment plan."