Simplify the following text for a Grade 8 native English-speaking person.
Original: In June 2005 , Toyota , the world 's second largest automaker , announced plans to build a new , $ 800 million automobile assembly plant in Woodstock on a 1,000-acre ( 4 kmÂ ) undeveloped site in the city 's northeast end .
Simplified: In June 2005 , Toyota , the world 's largest automaker , announced plans to build a new , $ CAD1 .1 billion automobile assembly plant in Woodstock on a 1,000-acre ( 4 km2 ) undeveloped site in the city 's northeast end .