Toyota scouting for Mexico plant

Toyota Motor Corp., the last major automaker without a full assembly plant in Mexico, is scouting the country for possible factory sites, two people with direct knowledge of the matter said.

Executives met this week with Mexican federal officials for preliminary talks about adding a plant in the country.

“Virtually every major manufacturer that’s active in the North American market is looking at capacity expansion, and Mexico is definitely a strong candidate to get that capacity. Mexico is now the crossroads of the automotive trade in the Western hemisphere," said Michael Robinet, managing director at consultant IHS Automotive.

Source: Bloomberg