Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
Latest News

Toyota aims to build new plants in China, Mexico

Japanese auto giant Toyota aims to invest a combined USD  1.3 billion to new plants in China and Mexico which is its first major investment in five years.

It expects to spend about 150 billion yen (USD 1.3 billion) on the new facilities and opening them in 2018 in China and 2019 in Mexico.

It will be Toyota’s first major investment since it began operating a new Thai plant in 2013, when it halted plant construction to focus on honing profitability, the Nikkei and Japan’s public broadcaster NHK said.

In China, Toyota has a joint venture with Guangzhou Automobile Group and the factory will also be built in the city of Guangzhou.

A company spokeswoman declined to comment on the reports, and said: “Nothing has been decided.”

Get Daily Prediction & Stocks Tips On Your Mobile