• The investment in Guanajuato is maintained, there will be the Tacoma
• The plant being built in Mexico is expected to start operations in 2019

They assert that in Guanajuato there will be no impact on investment or employment

MEXICO CITY (05 / AUG / 2017) .- The automotive company Toyota announced yesterday that it will no longer produce the Corolla model in Mexico, and will move that production to a new plant to be built in the United States, in conjunction with Mazda.

"By further increasing production capacity in the United States, Toyota will continue to seek closer management of the region as a measure to improve its response to the growth of the North American market," the company said in a statement.

Thus, "at the new Toyota plant in Guanajuato, which is currently under construction, Toyota plans to produce the Tacoma, instead of the Corolla. There will be no substantial impact on Toyota's investment and employment plan. "

On the other hand, the company stressed that the new joint venture with Mazda, subject to the approval of the relevant authorities of that country, aims to strengthen their relationship as well as to work on the design of specific products.

Thus, in this new Toyota complex will develop in conjunction with Mazda technologies for electric cars and connected cars, will develop advanced security technologies and complementary products.

The plant, which will start operations in 2021, expects to produce around 300,000 units per year, will require a total investment of approximately US $ 1.6 billion, and will generate around 4,000 jobs in that country.

Guanajuato Governor Miguel Márquez Márquez confirmed the information, noting that Toyota's executive vice president Osamu Nagata made the announcement known in a phone call he made from Japan.

The state president recalled that the investment in this project is one billion dollars and will generate 2,000 jobs.

"The plant was scheduled to start operating in the first few months of 2019, but with the change from Corolla to Tacoma, the date will be extended to a few more months, but the start will continue in 2019," he said.

Announces Partnership with Mazda

Toyota announced yesterday the signing of a partnership agreement with Mazda after two years of negotiations, including the establishment of a joint factory in the United States, the development of technologies for electric vehicles and cross-shareholdings.

In addition to the combined $ 1.6 billion investment to build the US factory, Toyota will acquire new Mazda shares worth 50 million yen ($ 385 million, or $ 457 million) in early October.

The goal is to reach a 5.05% stake in his compatriot, who in turn will also invest in the capital of the Japanese number one.

THE AMOUNT

$ 1 billion is Toyota's investment in Guanajuato.