Toyota invests US$150 billion in Baja California

Category: News
Published: 2016-10-26

Toyota announced an investment project valued at approximately US$150 billion, for its automotive plant located in Tijuana, Baja California. The President of the Company in Mexico, Mike Bafan, said that this investment is meant to increase its annual production from 105,000 to 165,000 units of Tacoma, which would in turn, position this as a factory with the same productive capacity as the Texas plant in the U.S.

This project represents the creation of new jobs, weighed in Francisco Vega de Lamadrid, Governor of Baja California; in addition, he disclosed that the State has a plan to contract more services from local suppliers, to reinforce the economy in this sector. Governor Vega explained that part of the negotiations to formalize this expansion, were related to an investment worth US$26 million for the Tijuana-Tecate Railway by 2017, as it is going to be one of the ways for transport which shall help the Company to move its products and raw materials.

Source: El Economista