AP - An official who's been negotiating with Tesla Motors Inc. to open an auto factory in Downey, Calif., says the carmaker has chosen instead to partner with Toyota to build electric cars at the former NUMMI plant in Fremont.
The Bay Area community of Fremont, Calif., is home to the state's last auto plant, jointly run by GM and Toyota. Known as NUMI, the plant has turned out thousands of vehicles and supported about 5,000 factory jobs over the past two decades. Now, Toyota reportedly is on the verge of pulling out, which means NUMI may soon be history.
Wall Street analysts have been touring Tesla’s massive factory in Fremont, Calif., and they’re returning with the same conclusion: Elon Musk’s electric-vehicle company is getting ready for something big. In a sign of this enthusiasm, Robert W. Baird & Co. upgraded its Tesla rating on Monday morning following a factory tour.
TOKYO — Toyota Motor Corp. is building two new auto plants, one in Mexico and the other in China, and one of the company’s Canadian factories is being retooled to focus on more expensive mid-size vehicles.
Toyota announced Wednesday it will invest US$1 billion in the plant in Guanajuato, Mexico, creating 2,000 jobs, to make the Corolla subcompact — one of Toyota’s biggest hits.
TORONTO — The federal and provincial governments have put aside their differences to help expand Toyota’s manufacturing operations in Southern Ontario.
The two governments will provide a total of $100 million toward Toyota’s planned $421-million investment in the automaker’s Cambridge operations.
The Canadian Press has learned the provincial Liberal government will give Toyota a grant of up to $42.1 million, or 10 per cent of the project’s cost.
Toyota Motor Corporation (TM) expressed optimism for auto sales in two of the toughest auto markets, Europe and Russia. At the Paris auto show, the Japanese automobile giant said it is retaining the same sales forecast for Russia as it did in 2013, despite the precarious political situation in the country. Even in Europe, Toyota is sticking with the target of attaining one million additional car sales, despite the slowed auto growth in the region.
GM Loses Global Car Sales Lead to Toyota Again
Auto sales have recovered in the US, but GM once again has dropped out of the top spot globally. CNN Money reports GM loses global sales title to Toyota, again.
General Motors fell to No. 2 in the global auto sales race, even as 2012 was its best year for sales since 2007.