Toyota Motor Corp (NYSE: TM), the world's largest automaker by production, has reportedly asked its employees in Venezuela to work from home.
Monitoring The Situation
The Japanese automaker asked its employees to work remotely as the company monitors the situation, according to a spokesperson for the company cited by Bloomberg in a report on Monday. However, the directive isn't affecting the company's production and sales activities in the country, the report suggests.
Toyota didn't immediately respond to Benzinga's request for comment.
Toyota's plant in Cumaná, once a producer of models such as the Corolla, has been repeatedly disrupted by Venezuela's prolonged economic crisis.
Uncertainty In Venezuela
The uncertainty comes as the U.S. military carried out an operation that led to the capture of the Venezuelan president, Nicolás Maduro, over the weekend. Maduro was captured and transported to New York for trial. Meanwhile, Venezuela's opposition leader María Corina Machado laid out an ambitious $1.7 trillion plan to privatize state assets, which include oil reserves.
Elsewhere, SpaceX and Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk confirmed that Venezuelans will be offered Starlink's free satellite internet access for a limited period of time.
Trump Touts $10 Billion Investment
Meanwhile, Trump has also touted a $10 billion investment by Toyota. He claimed that Toyota was "going to spend $10 billion building plants" in the U.S. Trump has touted that the tariffs invoked by the administration helped bring in over $18 trillion worth of investments in the U.S.
Price Action: TM slipped 1.31% to $215.01 during the Pre-market trading on Monday.