Toyota will invest $1B into a New Mexican Plant
Toyota has presented their multi-year plan which is supposed to realign its producing operations in North America.
The Japanese company is going to invest nearly $1 billion for building a new state-of-the-art production facility in Central Mexico. All this will be made in order to build the new Corolla. The vehicle will be based on the TNGA (Toyota New Global Architecture) scalable platform. The new facility will be able to manufacture 20,000 vehicles every year. Moreover, it will provide almost 2,000 team members with work. Manufacturing of the Corolla will probably start in Mexico in four years. The new factory will become the company’s 15th facility in North America. By the way, it is the first company’s investment since 2011 and it is the biggest one in Mexico to date.
When the new plant is ready and running in Mexico, the automaker will shift its Cambridge, Ontario North Plant located in Canada in order to manufacture mid-sized and higher-value cars. This plant opened 18 years ago and the investment will be the first one since then. The company will also invest in its Woodstock, Ontario factory for implementing TNGA rebuilding. The Woodstock factory will not stop producing the RAV4. At the same time the Cambridge South Plant will not stop producing the Lexus RX 350 and 450h offerings.
Chief executive officer of Toyota North America shared that they are excited to invest in North America in future. In such a way they will be able to meet the needs of their clients. He considers that such strategic re-considering of place and method of building their products will give new chances for the automaker, their business partners and team members.
