Toyota Motor is said to be planning to spend JPY150bn (US$1.25bn) to build two new car plants in Mexico and China with a combined capacity of 300,000 units per year.
According to local reports in Japan, citing unnamed company sources, a new 200,000 unit factory is expected to be built in Mexico’s Guanajuato state to produce the next generation Corolla sedan.
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The company currently has a Mexican factory producing the Tacoma pickup truck.
An additional 100,000 unit factory will be built in Guangzhou, China, to produce the Yaris from 2018.
A formal announcement is expected later this month.
