Mazda plans to spend a further US$150m on its Guanajuato, Mexico, plant, currently being built, to boost annual capacity from 140,000 to 230,000 by the end of fiscal 2016, the company said in a statement.
The additional spend will take total funding to US$650m and allow Mazda to produce an extra 40,000 vehicles a year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Guanajuato plant is due to come on stream in the first quarter of next year with initial capacity of 140,000 vehicles. These will be Mazda 2 and 3 models for north, central and south America.
From summer 2015, the plant will also produce 50,000 Toyota models based on the Mazda 2 destined for North America. That agreement was announced last November. Toyota is paying for the investment needed to produce its models which will be sold through its own dealer network.
