The funds will help the company quickly ramp up production, adding enough capacity to produce an additional 100,000 vehicles each year, according to a Courier-Journal report spotted by TTAC.
“Last month Subaru sales in the U.S. hit an all-time record of 52,697 units,” said Subaru of Indiana Automotive (SIA) executive VP Tom Easterday. “As Subaru sales have grown, so has SIA.”
The Japanese automaker recently revised its North American sales goal after fiscal 2015 numbers remained on a path to hit 600,000 units, a number previously set as a 2020 target. Another 100,000 units are expected to be pushed annually by 2017.
The company has already kicked off the hiring process, eventually adding 1,200 jobs to help meet the expanded production goal. The plant currently employs approximately 3,800 workers.
The company is still working to finish its previous expansion plan, announced in 2014 and worth $400 million, to add 100,000 units of additional capacity by 2016.
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