Toyota Spends $1B on the New Corolla Factory to Meet Demands

Toyota Motor Corp. will be constructing a $1 billion factory in Mexico specifically to manufacture their new Corolla compact that is expected to go on sale as a 2020 model. Mexico was chosen by the major car producer due to the lost costs of business, a strong regional supplier base, and their new architecture called TNGA. With all of these combined, the 2020 Corolla is expected to become more competitive on price and otherwise. Toyota’s TNGA - basic materials and methods for constructing the chassis and body of the car - will result in a car that has an improved lower center of gravity, ride, handling, lighter weight, and better fuel efficiency.The new factory will be built in Guanajuato, Mexico and will create approximately 2,000 jobs. With production beginning in 2019, Toyota estimates that it will be able to produce upwards of 200,000 Corollas per year for North American customers and possibly export. Currently, Corollas are also being produced in Blue Spring, Mississippi and Ontario, Canada where they are distributed to 18 countries.

The production in Mexico is not fully committed to export but will take over the Corolla production in Canada, which will instead focus on the company’s more expensive mid-size vehicles. Toyota Motor Corporation is a Japanese automotive manufacturer that is headquartered in Toyota, Aichi, Japan. With over 300,000 employees worldwide and over $22 trillion yen in yearly revenue, the company stands as the twelfth-largest company in the world by revenue. Since 1934, Toyota Motor Corporation has produced approximately 200 million vehicles through their brands Toyota, Hino, Lexus, Ranz, and Scion. In addition to these brands, Toyota also holds a 51.2% stake in Daihatsu, a 16.66% stake in Fuji Heavy Industries, a 5.9% stake in Isuzu, and a 0.27% stake in Tesla. Via our proprietary website ASAP Fasteners, ASAP Semiconductor is a leading distributor of Toyota products. Prospective customers can browse our inclusive inventory of hard-to-find obsolete and current Toyota parts at www.asap-fasteners.com. If you are interested in a part, please feel free to contact our knowledgeable sales staff at sales@asap-fasteners.com or 1-714.705.4780 for a quote.