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Hino Motors Manufacturing announced Wednesday it plans on expanding operations in Wood County, with plans centered around the purchase of the former Cold Water Creek distribution center in Mineral Wells and reconfiguration into a truck production facility. Hino, which is owned by Toyota Motor Corp., will make a $100 million investment to the 962,000-square foot facility in hopes of making it operational by early 2019.
A federal appeals court on Friday upheld an $11 million verdict against Toyota Motor Corp. over a fatal 2006 car crash in Minnesota, which a jury found was caused by an accelerator defect in a 1996 Camry. A three-judge panel of the 8th U.S. Circuit Court of Appeals found that the Minnesota jury had enough evidence to conclude in 2015 that Toyota was 60% liable for the crash and that the driver of the Camry, Koua Fong Lee, was 40% liable.
When Trump administration appointee Wilbur Ross sat for a hearing on his commerce secretary nomination, one name kept coming up: Toyota. A senator from Vice President Mike Pence's home state asked to be reassured trade reforms wouldn't compromise Indiana jobs.
Prime Minister Shinzo Abe plans to meet the head of Toyota Motor Corp. this week, two sources familiar with the matter said, as Tokyo scrambles to respond to rising pressure on trade under new U.S. President Donald Trump. It was reported that they are likely to discuss trade issues involving automobiles, as Abe prepares to meet Trump on Feb. 10 for talks during which the U.S. leader is expected to seek quick progress toward a two-way trade deal with Japan.