Toyota has announced that it will build a new production facility in Mexico and expand its joint venture in China with the aim to accelerate the use of innovative technologies into everyday production.
These investments are part of the Japanese automaker’s plan to construct production lines that are more competitive, with reduced initial investment, improved efficiency, flexibility, environmental performance and safety. The new plant in Mexico will help the company improve its competitiveness in the North American market and will undertake the production of the Corolla model. It is expected to have a production capacity of 2,00,000 units when fully functional.
For China, Toyota has announced the restructuring all its existing production lines as well as the opening a new production facility by the end of 2017 to meet future market demands.
Speaking at the event, Akio Toyoda, president of Toyota Motor Corporation, said: "This investment represents our long-held principles of continuous improvement and challenging ourselves to always do better. An increase in production does not mean an undisciplined pursuit of more. Toyota's expansion must be driven by providing ever-better-cars and our talented people. These investments will be an important test of Toyota's resolve and a measure of tangible improvement".
Dipan Sur
Dhruv Dhaka
Viraaj Bhatnagar
