Toyota Motor Corp. cut planned investment by 30 percent for a factory it’s building in Mexico and halved its production target amid pressure from U.S. President Donald Trump for manufacturers to keep more production in the U.S.
Japan’s biggest automaker will reduce investment in the Guanajuato plant to $700 million and trim planned capacity to 100,000 units a year, Executive Vice President Didier Leroy said at the Tokyo Motor Show Wednesday. Toyota scaled back plans after deciding to change output to trucks for the plant, scheduled to start production in late 2019, and determining that demand was for a smaller number of units, he said.
