Reuters is reporting that Toyota Motor Corp. is planning on spending $1 billion to build a 200,000-cars-a-year factory in Mexico, specifically in the central Mexican state of Guanajuato.
The factory will bring in approximately 2,400 direct jobs to Mexico and is expected to produce the Toyota Corolla compact car from the summer of 2019 onward.
Be on the lookout for President Enrique Pena Nieto in attendance at Toyota’s official announcement, which is expected to be held sometime this week.
