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UPDATE: Toyota will Spend $1.3 Billion to Open Factories in China, Mexico
Toyota Motor Corp. is ending its three-year freeze on new production capacity with investments totaling 150 billion yen ($1.3 billion) for new factories in China (100,000 units) and Mexico (200,000 units), sources tell Reuters.
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Toyota Motor Corp. is ending its three-year freeze on new production capacity with investments totaling 150 billion yen ($1.3 billion) for new factories in China (100,000 units) and Mexico (200,000 units), sources tell Reuters.
The China plant in Guangzhou, likely to open in 2019, will make Yaris minicars. Reuters' sources say the Mexican plant will be erected in Guanajuato to make next-generation Corolla small sedans.