Toyota is about to move Corolla production from Canada to a new assembly plant in the state of Guanajuato in Central Mexico. The latter will require about a $1 billion investment and have the capacity to produce 200,000 units annually.
Moving forward, the Cambridge, Ontario plant will manufacture mid-sized, higher-value vehicles like other Toyota plants in the U.S.
The Woodstock plant will continue to assemble the Toyota RAV4, while the Cambridge South plant will continue to build the Lexus RX 350 and 450h. Both facilities will require major modifications and new investments over the next several years in order to conform to the Toyota New Global Architecture (TNGA) standards.
"We are thrilled to invest further in North America so we can better meet the needs of our customers for decades to come," said Jim Lentz, chief executive officer of Toyota North America. "This strategic re-thinking of how and where we build our products will create new opportunities for our company, our business partners and our team members across the region."
Source : CNW