Toyota ends expansion freeze with new plants in Mexico, China

April 15, 2015 1:05 PM

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Toyota ends expansion freeze with new plants in Mexico, China

TOKYO (Reuters) - Toyota Motor Corp (7203.T) announced plans for new factories in Mexico and China on Wednesday, ending a self-imposed expansion freeze to fend off rivals racing to overtake it as the world's top-selling automaker.

Confirming earlier Reuters reports, the Japanese manufacturer said it would build a $1 billion plant with the capacity to produce 200,000 cars a year in the central Mexican state of Guanajuato.

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