Toyota's new $1B Mexico plant to build 2020 Corolla

April 15, 2015 2:52 PM

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Toyota Motor (TM) says it is building a $1 billion factory in Mexico to manufacture a radical, new Corolla compact that will go on sale as a 2020 model.

A combination of the low costs of doing business in Mexico, a strong regional supplier base and new Toyota architecture called TNGA should make the 2020 Corolla more competitive on price and ltherwise, says Jim Lentz, CEO of the big automaker's North American region.

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