Japanese automotive company Toyota has denied claims that it will invest $10 billion in the United States (US) as stated by President Donald Trump.
In an official statement, Toyota said that no such clear commitment has been made.
According to senior Toyota official Hiroyuki Ueda, the company does indeed intend to invest and expand operations in the US, but the $10 billion figure mentioned is only an estimate of the company's previous investment history, not a new promise that has been confirmed.
Ueda stressed that in the negotiations that took place while Trump was in Japan, Toyota never specifically stated that such an investment would be made in the next few years.
In his keynote speech in Tokyo, Trump mentioned that the recent Japanese Prime Minister had announced that Toyota would establish several new factories in the US with an investment cost of around $10 billion.
In fact, Trump also invited Americans to buy Toyota cars as a sign of support.
The move comes amid uncertainty over trade relations between the US and Japan, and pressure from automotive industry watchers to see Japanese companies provide clearer assurances about their investment commitments in America.
Toyota said it would continue to strengthen its commitment to expanding its factories and workforce in the US.
But it stressed that any major investment figures would be officially announced in due course.
