Toyota has confirmed plans to build a new car factory in Canada, its seventh in North America. Toyota’s new president, Katsuaki Watanabe, made the announcement that has been widely anticipated in recent weeks.
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“We are in the final stages” of the plans, said Katsuaki Watanabe, speaking in Tokyo. His appointment as president won shareholders’ approval last week, AP reported.
The Wall Street Journal reported Monday that Toyota would announce plans for a plant in Woodstock, Ontario. Watanabe did not give details but said a formal announcement will be made soon.
Toyota already has three auto assembly plants in the United States — in Kentucky, Indiana and California — with another set to open in Texas in 2006, as well as a plant each in Mexico and Canada.
Toyota’s strong performance in North America comes at a time when General Motors Corp. and Ford Motor Co. are, by contrast, in deep trouble.
Watanabe, 63, who appeared with his new management team at a Tokyo hotel, declined to comment on GM and Ford, AP said.
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By GlobalData“At Toyota, we have always put the customer first. And our management is based on valuing people,” he reportedly said. “We are continually taking up new challenges and we never become complacent.”
Analysts say that Toyota’s Canadian plant will most likely produce small vehicles, such as those sold under the Scion brand, although reports in Japan say that an announcement is expected Thursday and that the plant will build 100,000 RAV4s a year.
