(Reuters) – toyota The North American division of Motor (NYSE:) is seeking tax relief for a potential $531.7 million investment in its Texas facility, the San Antonio Express-News reported Tuesday, citing public records filings.
The Japanese automaker plans to build a new building, add 411 jobs and potentially expand its existing plant in San Antonio, Texas, which makes the Toyota Tundra pickup truck and Sequoia SUV, according to the report.
Major automakers are now refocusing their efforts and investments on hybrid and gasoline vehicles with better profit margins, after slowing demand for electric vehicles led them to cut their financial commitments for such models.
Toyota has invested $4.2 billion in the San Antonio plant since 2003 and employs more than 3,700 workers at the facility, which began production in 2006.
The San Antonio expansion could encompass more than 500,000 square feet of new space, but the company's presentation to Bexar County did not specify what would be added at the plant, according to the report.
Toyota did not immediately respond to a Reuters request for comment.
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