November 11, 2024

Toyota pushes ahead with investments in Mexico

Posted By: ndeeney

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Toyota Motor Corporation last week confirmed it will complete its US$1.45bn investment to upgrade its two main manufacturing plants in Mexico, following a meeting with the country’s Minister of Economy, Marcelo Ebrard, last week.

Reports in Japan suggested the automaker is committed to completing the investment, first announced in 2020, despite the imminent change in the US government – with US President-elect Donald Trump threatening to hike duties on imports from the country during his election campaign earlier this year.

Toyota, which has had a manufacturing presence in Mexico since 2002, confirmed it will move forward with plans to re-equip its manufacturing plants in Tecate, Baja California, and in Apaseo el Grande, Guanajuato. The Tecate plant will produce the next generation Tacoma pickup truck, including a hybrid model, while the Guanajuato plant produces the Corolla compact passenger car.

Luis Lozano, president of Toyota México, said the investments will create an additional 1,600 jobs in the country. His company confirmed the investment will increase production capacity at the two plants and introduce new technologies designed to improve efficiency and reduce emissions.

Toyota produced an estimated 320,000 vehicles in Mexico last year, with local sales amounting to 104,000 units. The US is the main export destination of the company’s production in Mexico.

Toyota is far from being Mexico’s largest vehicle producer, with General Motors topping the list with output of around 723,000 vehicles last year; followed by Nissan with 612,000 units; Stellantis 468,000 units, and Ford with 366,000 units.

“Toyota pushes ahead with investments in Mexico” was originally created and published by Just Auto, a GlobalData owned brand.

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