Toyota Motor Corp (7203.T), the world's biggest automaker, will spend $1 billion to build a car factory in Mexico and plans to announce the investment on Wednesday, two sources with direct knowledge of the matter said.
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In a corner of Toyota's oldest factory, the Japanese carmaker's longest-serving employee preaches the benefits of craftsmanship, saying manual labor is the key to success in a highly automated automotive industry.
Toyota Motor Corp (7203.T) said on Thursday it would aim to halve the investment required to retool factories for new models compared with what it was spending before the 2008 financial crisis, as part of a sweeping overhaul of the way it develops and builds cars.
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