TEMPO.CO, Jakarta – A manufacturing company originally from Japan, Toyota Motor Corp. plans to produce pickup trucks and sport utility vehicles (SUVs) at a new plant located in the Mexican state of Guanajuato.
“We will concentrate only on pickup trucks in the beginning, and are studying the potential of SUVs in the future,” said Luis Lozano, a spokesman for Toyota Mexico, as quoted by Reuters on Sunday, August 6, 2017.
Lozano said the plan for now is that the company will assemble Tacoma truck models. As for the SUV model, it is still in the learning stage.
Both models are indeed quite lucrative products for the North American market. Trucks and SUVs account for about 65 percent of the market in North America.
This decision was taken when Toyota took a 5 percent stake from Mazda Motor Corp. as part of its second alliance to set up a factory in the United States with an investment value of $ 1.6 billion.
The investment value incurred by the company in the region will be the same although there will be a change of plan. “The investment we counted when announcing the decision to set up a plant is worth USD 1 billion,” said Lozano.