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Toyota Said to Join Mexico Auto Rush as Ford Spends $2.5 Billion

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Mexico’s simmering auto industry is rising to a boil with a plant from Toyota Motor Corp. and a $2.5 billion investment from Ford Motor Co.

Toyota will announce its first Mexico factory on Wednesday, said two people with direct knowledge of the matter. Ford will invest in two plants, said a person familiar with the company’s plans. And Hyundai Motor Co. said it will seek to build a factory once the company’s Mexican sales rise.