It's Discount Week! 🎁 Pick up new Marketplace gear at a discount when you donate today! Get My Gear!

Toyota ramps up expansion plans

Adam Allington Apr 16, 2015
HTML EMBED:
COPY

Toyota ramps up expansion plans

Adam Allington Apr 16, 2015
HTML EMBED:
COPY

The world’s largest carmaker by volume, Toyota, says it plans to invest $1.4 billion to build two new factories in Mexico and China.

The announcement marks an end to a three-year, self-imposed expansion freeze. The new plant in Guanajuato, Mexico, will turn out 200,000 compact Corollas per year by 2019. The plant in Guangzhou, China plans to start production in 2017 with a capacity to make around 100,000 cars a year.

The free-trade agreements between Mexico, the U.S., and Europe, coupled with Toyota’s new super-efficient global architecture has the potential to set a new competitive threshold for the car industry.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.