Photo: Toyota
Toyota managed to establish their position as the biggest car manufacturer on Earth, but Volkswagen Group is not happy about that. In fact, the German conglomerate is getting closer to taking the throne from Toyota.
However, the Japanese won't go down without a fight, not since General Motors are also part of the equation.
They recently unveiled the new TNGA (Toyota New Global Architecture) platform, a solution that will use lighter and more compact parts for a new generation of cars. In addition, Japanese officials made it clear that they want Toyota's future factories to be more efficient and, therefore, produce better cars.
According to Reuters, Toyota Motor Corp. could put that into practice sooner than expected, as the Asian giant is looking to invest around 150 billion yen ($1.3 billion) for two new plants.
The same source says that according to "two people familiar with plans", Toyota will end "a three-year freeze imposed after unchecked growth lumbered the world's biggest automaker with too many idle production lines".
The two new facilities will be built in Mexico and China and once completed, will boost Toyota's annual capacity by 300,000 units. The Mexico facility will be used to make the next-gen Toyota Corolla sedan in Guanajuato, but cars are destined for the North American market and are likely to arrive there in 2019.
Regarding the China plant, Toyota allegedly decided to build this facility in Guangzhou. However, the factory will be responsible for producing around 100,000 Yaris model per year, starting in 2018.
Besides not wanting to fall behind its main rivals, Toyota's decision to open new plants comes after car demand in the United States returned back to pre-crisis levels.
They recently unveiled the new TNGA (Toyota New Global Architecture) platform, a solution that will use lighter and more compact parts for a new generation of cars. In addition, Japanese officials made it clear that they want Toyota's future factories to be more efficient and, therefore, produce better cars.
According to Reuters, Toyota Motor Corp. could put that into practice sooner than expected, as the Asian giant is looking to invest around 150 billion yen ($1.3 billion) for two new plants.
The same source says that according to "two people familiar with plans", Toyota will end "a three-year freeze imposed after unchecked growth lumbered the world's biggest automaker with too many idle production lines".
The two new facilities will be built in Mexico and China and once completed, will boost Toyota's annual capacity by 300,000 units. The Mexico facility will be used to make the next-gen Toyota Corolla sedan in Guanajuato, but cars are destined for the North American market and are likely to arrive there in 2019.
Regarding the China plant, Toyota allegedly decided to build this facility in Guangzhou. However, the factory will be responsible for producing around 100,000 Yaris model per year, starting in 2018.
Besides not wanting to fall behind its main rivals, Toyota's decision to open new plants comes after car demand in the United States returned back to pre-crisis levels.
Google News