May 21 (Reuters) - Toyota Motor's ( TM ) North America

arm is seeking tax relief for a potential project totaling

$531.7 million in investments at its Texas facility, which

manufactures the Toyota Tundra pickup truck and Sequoia SUV, the

company said on Tuesday.

Major automakers are now refocusing their efforts and

investments on hybrid and gasoline-powered vehicles with better

profit margins, after slowing demand for electric vehicles

prompted them to cut financial commitments towards such models.

"We are constantly evaluating our competitiveness and making

decisions to support the potential for continued investments

across our North American operations...," Toyota ( TM ) said in an

emailed statement to Reuters.

Toyota ( TM ) did not provide additional details on the investment.

San Antonio Express-News first reported on the investment

earlier in the day. The report, citing public record filings,

said Toyota ( TM ) plans to construct a new building, add 411 jobs and

potentially expand its existing plant in San Antonio, Texas.

The Japanese automaker 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.