Mr. Speaker, yesterday Toyota Motor Manufacturing Canada Inc. announced plans to build the award winning Lexus RX300 sports utility vehicle beginning in 2003 at its industry leading plant in my riding of Cambridge.
This good news translates into new investment of $650 million, the creation of 300 new jobs in Cambridge, an increase in the plant's capacity from 200,000 to 220,000 vehicles per year, and a spinoff expansion of eight new Lexus dealerships throughout Canada.
Toyota Canada president Yoshio Nakatani stated: “The Cambridge-built Corolla is the best selling Corolla in Canada, and the RX300 is the best selling Lexus. Now they will both be stamped `Made in Canada'.”
Prior to this announcement, Toyota created 2,800 jobs in Cambridge and invested over $2 billion in the facility which industry analysts rated as the most productive auto assembly plant.