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Toyota investing $1 billion in Mexico plant

Toyota has announced plans to build a new factory in Mexico. The site, to be located in the state of Guanajuato, is set to open in 2019 following an investment of about $1 billion. The plant will be the first to make use of the Toyota New Global Architecture, and will (at least initially) focus on production of the Corolla. The compact sedan will continue being built in the United States at the Blue Springs, MS, site, consolidating Corolla production in the south. However Toyota's site in Ontario, Canada, will shift to "mid-sized vehicles of higher value," alongside the plants in Kentucky and Indiana, the automaker said. The Guanajuato site will be Toyota's second Mexican plant, joining the Tijuana plant that assembles the Tacoma – soon to ramp up to 89,000 units per year. Once the new Guanajuato plant comes on full steam, it is slated to produce around 200,000 units per year. It'll be the first site Toyota will open worldwide since it began focusing on utilizing the production capacity it already has. With 90 percent of its production capacity now in use, the Japanese auto giant is also planning to broaden its joint venture with Guangzhou in China as well. Toyota Invests in Competitive Plants - Emphasis on Sustainable Growth Strategy - New plant in Mexico and expansion of its GTMC joint venture in China Toyota City, Japan, April 15, 2015 - Toyota announced today that it will build a new plant in Mexico and expand its joint venture, Guangzhou Toyota Motor Co., Ltd. (GTMC), in China. These investments are grounded on its plans to construct production lines that are more competitive, with greatly reduced initial investment, improved efficiency, flexibility, environmental performance and safety. These "simple and slim" production lines can be easily lengthened or shortened depending on demand. Over-head conveyance devices are eliminated, compact equipment is installed on top of the plant floors, and paint-booths are smaller. The new plant in Mexico and the expansion in China will be designed to accelerate innovation by implementing these new technologies into real production lines. With today's announcement, Akio Toyoda, President of Toyota Motor Corporation said "This investment represents our long-held principles of continuous improvement and challenging ourselves to always do better. An increase in production does not mean an undisciplined pursuit of more. Toyota's expansion must be driven by providing ever-better-cars and our talented people.

Lexus reportedly working on two different successors to the LFA

The successor to the Lexus LFA is beginning to take shape — in unofficial rumors, at least. The firm's next supercar will reportedly make its debut in the coming years with a V8 under the hood, and it will be followed by a battery-electric model due out at the turn of the decade. Citing anonymous inside sources, Japanese magazine Best Car wrote that the long-awaited car that will take the torch from the limited-edition LFA will land in showrooms in 2025. As we've previously reported, it will be powered by a gasoline-electric hybrid powertrain built around a mysterious 4.0-liter V8 engine fitted with two turbochargers. The publication adds that the coupe, whose name hasn't been confirmed, will be launched as a regular-production model and that it will be built on a version of Toyota's TNGA-L platform. This is the same architecture found under the LC and the LS, among models, and using these foundations should allow Lexus to keep the car's cost in check. Engineers could peg the hybrid system's total output at around 700 horsepower, and Best Car reports that the car's front end will borrow styling cues from the Electrified Sport concept (pictured) introduced in December 2021. If the report is accurate, sales will start in 2025. Speaking of which, the Electrified Sport will make its debut with a battery-electric powertrain in 2030 at the earliest. Its design will evolve over the next eight-plus years; it sounds like what we saw in December 2021 more accurately previewed the hybrid supercar than the electric one. It could hit 60 mph from a stop in under 2 seconds, and it could offer a maximum driving range of over 430 miles. Interestingly, the same report points out that the Electrified Sport might use solid-state batteries. That technology's not ready, but Lexus has plenty of time to fine-tune it. Toyota GR GT3 Concept View 8 Photos On the Toyota side of the family tree, the GR GT3 concept unveiled in January 2022 is allegedly on its way to production (in one form or another) as well. It will initially spawn a race car built to GT3 specifications, as its name implies, and it will benefit from the lessons that engineers learned while designing a road-going, Le Mans-inspired hypercar that Toyota consigned to the automotive attic in August 2021. Whether the GR GT3 will be related to the LFA's successor is up in the air, though it doesn't take a significant stretch of the imagination to speculate that some parts will be shared.

4 automakers agree to $553M settlement of Takata airbag claims

WASHINGTON (Reuters) - Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday. Toyota's share of the settlement costs is $278.5 million, followed by BMW at $131 million, Mazda at $76 million and Subaru at $68 million. According to a press release from Plaintiffs' Committee for Takata Airbag Product Liability Litigation, the funds for the settlement are aimed at getting more cars with faulty airbags fixed. At the time of writing, Toyota had the greatest recall completion percentage of 31.89 percent followed by Subaru with 31.37 percent. Mazda has completed repairs on 18.16 percent of affected cars, and BMW brings up the rear with 16.48 percent completion. Some settlement funds will go to an outreach campaign to increase awareness, while other funds will be used to reimburse people for any costs accrued to get their cars fixed. These costs can include rental cars, child care, lost wages, or any other reasonable costs associated with bringing in a vehicle for repairs. Furthermore, a customer support program will be funded with settlement money to handle any additional repairs or adjustments that could become necessary in the 75,000 miles following the airbag replacement. Lawsuits against Honda, Ford and Nissan have not been settled, lawyers said. Takata inflators, which can explode with excessive force and unleash metal shrapnel inside cars and trucks, are blamed for at least 16 deaths and more than 180 injuries worldwide. The safety defect has prompted recalls worldwide of about 100 million inflators by more than a dozen major automakers. Reporting by David Shepardson, additional details by Autoblog's Joel StocksdaleRelated Video: Government/Legal BMW Mazda Subaru Toyota