Toyota announces an investment of $328 million to transform its Mexican plant to produce hybrid pickup trucks

CTOnews.com, June 9, Toyota said yesterday that it will invest an additional $380 million (CTOnews.com Note: about 2.706 billion yuan) in a plant in the central Mexican state of Guanajuato to adjust its production process to meet new demand. In the future, the plant will produce hybrid Tacoma pickup trucks.

"this means that the Guanajuato plant will now be part of the company's electrified production strategy," Toyota said in a statement.

Since the plant was announced, Toyota has invested nearly $1.2 billion (currently about 8.535 billion yuan) in Guanajuato and says the plant currently provides more than 2500 jobs. The announcement came after Guanajuato Governor Diego Sinhue visited Japan.

Although Mexico is an important car manufacturing center, producing a large number of electric vehicles every year, many electric cars are exported to developed countries such as the United States, Reuters reported. Electric cars are still too expensive and impractical for drivers in much of Mexico because of the country's lack of a network of charging stations.

In March, Tesla said it would open a super factory in the northern Mexican state of Nuevo Leon, and the company hopes to expand its global production.