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Toyota Ready to Approve Car Plant in Mexico
Toyota Motor Corp.'s board could approve the company's first auto assembly plant in Mexico as soon as April, sources tell Reuters.
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Toyota Motor Corp.'s board could approve the company's first auto assembly plant in Mexico as soon as April, sources tell Reuters.
The sources say the factory will make the next-generation Corolla small sedan. Toyota also makes 150,000 Corollas per year at a factory it opened in 2011 in Blue Springs, Miss., in 2011.
Last September Toyota President Akio Toyoda told planners he would approve the Mexican facility only if they could show there was no further output possible from existing factories in the America. The plant, which would be Toyota's first in the country, would end a moratorium Toyoda imposed three years ago to refocus the company on product quality.
Reuters says the new facility is likely to be in Guanajuato in central Mexico. Toyota assembles Tacoma pickup trucks in the country but is the only major vehicle manufacturer without a carmaking operation there.
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