Carmaker Toyota to invest US$328 million in Mexico hybrid pickup plant

09 Jun 2023 07:36AM
(Updated: 09 Jun 2023 09:32AM)

MEXICO CITY: Japanese carmaker Toyota will invest US$328 million more in a plant in the central Mexican state of Guanajuato, it said on Thursday (Jun 8), as it looks to adapt its production processes for a new hybrid model of its Tacoma pickup truck.

"The new version of the 'Mexican pickup' will be hybrid electric, which means Guanajuato will now form part of the company's electrification production strategy," Toyota said in a statement.

The funds will help adapt manufacturing for the new Tacoma model for a North American market, it added.

Toyota has invested close to US$1.2 billion in Guanajuato since it announced the plant, it added, saying the factory provides more than 2,500 jobs.

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https://www.channelnewsasia.com/business/toyota-invest-mexico-hybrid-pickup-plant-3549956