The Traderszone Network

Published in TZ Latest News 2 April, 2015 by The TZ Newswire Staff

Toyota to end expansion freeze, invest $1.3 billion in two new Mexico, China plants: sources

Japan’s Toyota Motor Corp will spend about 150 billion yen ($1.3 billion) to build two new car plants in Mexico and China, two people familiar with plans said, ending a three-year freeze imposed after unchecked growth lumbered the world’s biggest auto maker with too many idle production lines. President Akio Toyoda had been cautious about expanding after Toyota was hit by a capacity glut following the global financial crisis. The new plants will raise Toyota’s annual production capacity by nearly 300,000 cars, the two people said – 200,000 in Mexico and up to 100,000 in China.