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Posts Tagged ‘toyota mexico’

Ford, Toyota to Invest Combined $3.5 Bil in Mexico

Makers join growing list of makers expanding ops South of the Border.

by on Apr.15, 2015

Toyota confirms it will build the next-generation Corolla model at a new plant in Mexico.

Following announcements of major investments in both Mexico and India, Ford Motor Co. is set to make a $2.5 billion bet closer to home. Meanwhile, Toyota Motor Co. has confirmed recent reports that it will invest $1 billion in a new Central Mexican plant to produce its compact Corolla model.

Toyota and Ford will join a growing list of manufacturers either entering or expanding operations in Mexico which is now one of the world’s largest producers of automobiles. That includes carmakers from Europe, Asia and Detroit, as well.

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While Ford is not officially confirming the announcement — stating it “cannot comment on future product or manufacturing plans” – Toyota North American CEO Jim Lentz said the new Corolla plant is part of a “strategic re-thinking of how and where we build our products will create new opportunities for our company, our business partners and our team members across the region.”

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Toyota Eyes New Wave of Expansion

by on Apr.06, 2015

Toyota is expected to build the next-generation Corolla model at a new plant in Mexico.

With auto sales expected to increase in key market around the world, Toyota is apparently looking to expand its capacity by building new assembly plants in China and Mexico.

Press reports from Tokyo said that the Japanese auto giant anticipates investing $1.3 billion to build the new plants – a move that would reverse a ban on new factories imposed by Chairman Akio Toyoda when he took over as the company’s top executive.

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Just last week, senior Toyota officials announced the first part of their new growth plan, dubbed Toyota New Global Architecture, or TNGA. The use of the word was fitting, analysts noted, because a key step will be the introduction of new vehicle architectures, or platforms for at least half of its vehicles by 2020.

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Toyota Eyeing Plant for Mexico

Maker reportedly eyeing several possible locations.

by on Sep.11, 2014

Toyota may be the next to head South of the Border.

Toyota may soon become the next major automaker to open an assembly plant in Mexico, following other global manufacturers including BMW, Kia and Mercedes-Benz, all of whom announced plans to set up operations “South of the border” in recent months.

Toyota, which already operates an extensive manufacturing network in the U.S. and Canada, would not be a stranger to Mexico. It already operates a so-called “kit car” plant in Baja, California an hour south of Tijuana, that assembles about 50,000 small pickup trucks annually.  But unlike other global manufacturers, Toyota has not built a full-scale assembly plant in Mexico, which has seen automotive-oriented investments boom in recent years.

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Mexico is already the world’s sixth-largest auto producing nation, with manufacturers including Detroit’s Big Three, Volkswagen and Nissan, firmly entrenched. Audi is in the midst of readying a plant near Puebla that will become the first to build luxury cars. Honda joined the procession in February, and, just since June, Kia Motor Corp. BMW AG and Daimler AG have announced plans for Mexican operations.

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Toyota Targeting Latin American Growth

Sees Brazil, Mexico key to remaining world’s largest automaker.

by on Aug.30, 2013

Former GM senior exec Mark Hogan recently became the first American on Toyota's board of directors.

Toyota Motor Co., the world’s largest automaker, is looking to expand its presence in Latin America where it has underperformed key competitors such as General Motors, Volkswagen and Nissan, a new member of the automaker’s board of directors said.

Mark Hogan, former president of Magna International and former General Motors executive, who on June 1 became the first American to serve on Toyota’s board of directors, told reporters that Toyota needs to expand its footprint in booming, Latin American markets such as Brazil and Mexico.

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“Toyota is an extremely strong brand in Brazil but it under-performs in the market,” Hogan told reporters during a Toyota press event organized to review the company’s hybrid technology. “We only have about 5% market share. It should be higher,” he said.

“Brazil is a very important market for Toyota,” added Hogan who ran GM do Brasil for several years. One of his key assignments as a new board member will be to help Toyota expand its foothold in Latin America.

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