Ford, Toyota Ready Plant Expansions in Mexico

Ford Motor Co. and Toyota Motor Corp. will announce major expansions in Mexico this week, according to media reports.

Toyota plans a $1 billion factory in Guanajuato with capacity to build 200,000 vehicles per year. The facility is expected to begin making Corolla small cars in 2019.

Ford is expected on Friday to announce it will invest $2.5 billion to add diesel engine capacity at its factory in Chihuahua and $1.2 billion to build a new transmission plant in Guanajuato.

The two projects will generate a combined 6,900 jobs, according to reports.