newsFrom Japan
Economy November 10, 2024 09:00 (Japan time)
SAO PAULO, November 9 (Jiji Press) – Mexico's Ministry of Economy announced that Japan's Toyota Motor Corporation will invest $1.45 billion in Mexico to expand truck production.
According to a Toyota spokesperson, this amount corresponds to the total investment from 2020 onwards. The company expanded into Mexico in 2002.
Toyota informed the Mexican government of its investment plans during a meeting with Economy Minister Marcelo Ebrard on Thursday.
The company plans to use the funds to build next-generation models, including a hybrid version of its Tacoma pickup truck, at two plants in Baja California and Guanajuato.
Former US President Donald Trump, who is set to return to the White House following his victory in the US presidential election on Tuesday, imposed a 200 percent tariff on cars imported from Mexico to protect domestic industry during his campaign. I swore.
(Copyright Jiji Press)
Jiji Press
