Toyota announces $380 million investment in Mexico, retooling plant to produce hybrid Tacoma pickup truck

According to news on June 9, Toyota Motor recently announced that it will make additional investments in its factory in Guanajuato, central Mexico, totaling US$380 million (approximately 2.706 billion yuan). In order to meet the new market demand for hybrid Tacoma pickup trucks, the factory will adjust its production process. According to Toyota, this decision will make the Guanajuato plant an important part of the company's electrified production strategy.

According to the editor’s understanding, Toyota’s investment was in Diego, the governor of Guanajuato State, Mexico. The announcement was made after Sinhue visited Japan. Since the plant was built, Toyota has invested nearly $1.2 billion (approximately 8.535 billion yuan) in the state and created more than 2,500 jobs.

Every year, Mexico manufactures a large number of electric cars, but most of these cars are exported to developed countries such as the United States. Due to an imperfect network of charging stations in Mexico, electric vehicles remain an expensive and impractical option for drivers in many areas.

In March of this year, Tesla announced the construction of a gigafactory in the northern Mexican state of Nuevo Leon to enhance its global production capabilities, which is worthy of attention. This further demonstrates Mexico's status as an important base for automobile production. By investing in the Mexican market, Toyota not only demonstrates its importance to the region, but will also create more opportunities for local economic development and employment.

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