Toyota Motor Corp. will open a new assembly plant in the state of Guanajuato in 2019, the business publication Nikkei Asian Review reported today.
The plant will have a capacity of 200,000 vehicles a year and will operate around the clock, building a new version of the Corolla sedan. A Canadian factory that currently manufactures that model will make larger vehicles instead.
Toyota will also build a new factory in the city of Guangzhou, China, where it will build the Yaris subcompact, producing up to 100,000 cars a year.
The Asian Review reported that the new factories will require a 40% smaller investment to build: assembly line steps have been reduced and production equipment stripped down.
They will be able to retool for different models in just a few days, compared to nearly a month at older factories.
Total investment for the two plants will be US $1.25 billion.
The official announcement by Toyota is expected later this month. It will bring to an early end a freeze on building new plants that was implemented in 2013, the last year in which a new factory opened.
The company’s annual production capacity will rise to 11 million vehicles once the new plants are operating.
Toyota has a truck plant in Baja California where it produces the Tacoma. But the Tijuana facility is not a full assembly plant. The company is the only major auto maker without such a facility in Mexico.
Source: Nikkei Asian Review (en)