Toyota Motor Corporation TM recently announced that the company will reach its January 2017 pledge of investing $13 billion over a five-year period a year earlier than anticipated, along with the creation of more than 6,500 new jobs with focus on advancing electrification and improving mobility in the U.S market.

In January 2017, Toyota Indiana (TMMI) invested $600 million and added 400 new jobs to complete the transformation of its plant modernization project. Additionally, in April 2017, Toyota made an investment of $1.33 billion in Toyota New Global Architecture (TGNA) and advanced technologies in Kentucky. In July and August 2017, the firm invested $1 billion and $800 million in Texas and Alabama, creating 1,000 and 4,000 jobs, respectively. While the investment in Texas was used for the completion of new regional corporate headquarters, the investment in Alabama was utilized for the Greenfield vehicle-manufacturing facility with Mazda. Notably, in August 2017, Toyota and Mazda had collaborated to establish MTMUS, a $1.6-billion joint venture to assemble up to 300,000 vehicles annually. Moreover, later that September, the firm invested $373.8 million and added 50 new jobs to support the production of TNGA hybrid powertrain in Alabama, Kentucky, Missouri, Tennessee and West Virginia.

Further, in April 2018, Toyota spent $170 million in Mississippi, creating 400 jobs in TNGA to produce the 12th generation of its Corolla model. In March 2019, the company made an investment of $750 million and added 600 new jobs in Alabama, Kentucky, Missouri, Tennessee and West Virginia through vehicle and unit plant expansion. Furthermore, later in September, Toyota invested around $391 million again in TNGA and advanced technologies. In January this year, it made an investment of $700 million, creating 150 jobs, through the completion of plant modernization project and by adding 40,000 units of vehicle capacity.

Apart from these investments, the company spent $5.9 billion in supplier tooling, general plant upgrades, research & development, and other selling, general administrative expenses, as well as a $1-billion investment in the Toyota Research Institute.

Toyota has built a massive supply chain in the United States, with more than $28.4 billion in direct investment in the country, 10 production plants including its joint venture with Mazda, nearly 1,500 dealerships and more than 184,000 of working population.

Zacks Rank and Stocks to Consider

Toyota currently carries a Zacks Rank #5 (Strong Sell). Shares of the company have depreciated 10.6%, year to date, compared with the industry’s decline of 12.9%.

Some better-ranked stocks are Niu Technologies NIU, Tesla TSLA and AngloGold Ashanti Limited AU, each carrying a Zack Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Shares of Niu have surged 87.5% year to date, as against the industry’s decline of 12.9%.

Shares of Tesla have soared 158.1%, year to date, compared with industry’s rise of 38%.

Shares of AngloGold have rallied 32%, year to date, compared with the industry’s gain of 25.8%.

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