Toyota Motor on Tuesday stated it will downsize investment in a planned plant in Mexico by 30 percent to $700 million and slash scheduled yearly capacity in half to 100,000 vehicles as it mixes its production plans to fulfill market demands. Toyota Executive Vice President Didier Leroy stated the decision was made to allow the
Toyota Motor will push back the beginning of operations at its new plant in Mexico, to the first half of 2020 from the initial strategy of 2019, the company stated. Japan’s leading automaker prepared to begin developing the Corolla sedan at the $1 billion Guanajuato plant however stated recently it would switch production to a
Toyota Motor stated on Friday it planned to develop pickup trucks and perhaps SUVs at a new plant in Mexico, a plan that followed threats by U.S. President Donald Trump to penalize the automaker if it constructed small cars south of the border. Toyota at first planned to produce Corolla sedans at the plant it
Toyota Motor on Tuesday stated it would add 400 jobs to develop more SUVs at one of its U.S. plants, highlighting its growth plans just as U.S. President Donald Trump gets in touch with automakers to construct more cars in the country. The Japanese automaker stated the jobs became part of a $600 million upgrade
Toyota Motor on Thursday stated that company CEO Akio Toyoda consulted with U.S. Vice President-elect Mike Pence in Washington this week as the inbound U.S. administration pressures car manufacturers to develop more vehicles in the U.S. A Toyota spokesperson stated that Toyoda met Pence on Tuesday, a day after the Japanese automaker informed it would
U.S. President-elect Donald Trump has called on Toyota Motor over its Mexican-built vehicles, however the biggest risk from a proposed tariff would be for its compatriot Nissan Motor, the biggest automaker operating in the nation. Trump has targeted U.S. automakers such as General Motors and Ford Motor which produce abroad, alleging them of costing U.S.
Japan’s finance minister has been watching Toyota’s defense after the automaker was criticized for its Mexican development strategies by the United States president elect Donald Trump. Toyota, the world’s most significant vehicle producer, is constructing a new factory in Guanajuato, in main Mexico, which will produce a Corolla model that is presently developed in Mississippi