Toyota adjusts investment at Guanajuato plant
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Toyota Motor Corporation announced it would reduce by 30% the investment it had planned for the production facility under construction in the state of Guanajuato.
The Japanese company said in a statement that the total investment amount has been adjusted to approximately US$ 700 million to have an annual production volume of 100,000 Tacoma units.
The amount indicated by Toyota is 30% lower than the one announced in April 2015, when the company said it planned an investment close to US$ 1 billion to build the Corolla sedan in Mexico.
“These investment and production figures have been established to ensure the viability of our infrastructure and operations,” said the company in a press release. “Toyota will begin production in the state of Guanajuato by the end of 2019 with flexible, sustainable and highly competitive facilities.”
The carmaker is also completing the expansion of its plant near Tijuana that will bring by year end Tacoma pick-up capacity from 100,000 to 160,000 units per year.