The Japanese car manufacturer Toyota, which had officially frozen all construction plant since 2013, will invest the equivalent of 1.15 billion euros in two factories in China and Mexico. The world number one automotive wants to expand its production of 300,000 units and better serve the Chinese and North American markets, said on Friday April 3, the business daily Nikkei . An announcement is expected later this month, the newspaper said.
Earlier this year, Toyota’s management had however that it had decided not to build new plants for three years until March 2016, for “strengthen its competitiveness” rather than engaging in a race to the amount. “If demand exceeds our production capacity is used to its maximum, then we will consider increasing it after careful consideration of market trends” , had the company said.
The entry into operation of these new sites would be by 2018-2019. The annual Toyota Production should then be around 11 million units. The new China plant should have a production capacity of 100,000 urban Yaris for the Chinese market. The proposed site in Mexico should assemble annually up to 200,000 Corolla sedans for export to the United States
Read also:. Decline in car sales in the US
Toyota noted in early February for the second time, its annual forecast, due to the depreciation of the yen and strong sales in North America. The manufacturer now expects a profit historic 2130 billion yen (15.3 billion euros at the exchange rate chosen by the group) for the financial year to end-March 2015 (+ 16.8% year on year ), whereas it previously was expecting 2000 million. Revenues could increase by 5.1% to 27,000 billion yen (194 billion euros).
Toyota introduced last week a new pooling strategy platforms and components with the aim to reduce its development costs by at least 20%. Toyota recently said will further strengthen its “competitiveness”, even if it will lead initially to “increased investment”
See also:. Didier Leroy, a ” gaijin “from the north, Toyota
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