Jun 30th, 2008 by RJ Menezes
Toyota Motor Co. recently announced that they were opening a new $1 billion dollar car manufacturing facility in Brazil. The new plant will be located in the state of Sao Paulo and will be the company’s second factory in the country. Toyota also has a plant in Indaiatuba, which produces a version of the Corolla sub-compact.
The new plant is expected to start building variations of the Vitz/Yaris subcompact. Toyota is also considering building new models derived from the iQ minicar concept that Toyota unveiled last fall. The iQ has been designed primarily to provide a low-cost platform for a range of affordable vehicles. These vehicles are aimed more at emerging markets, but have the possibility for a more global role in the future if needed.
The new facility will be completed in 2010 and will also have the capabilities to build engines. Toyota says it expects the new plant to churn out around 200,000 units a year.
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