TOYOTA ANNOUNCES NEW PLANT IN MEXICO

TIJUANA, Baja California, Mex. – Toyota announced today that it has selected a 700 acre site outside of Tijuana in Baja California as the location for its new manufacturing plant in Mexico.

The plant will make and ship decks (truck beds) for Tacoma pickup trucks, which are built at New United Motor Manufacturing, Inc.(NUMMI). NUMMI is a joint venture with Toyota and General Motors, located in Fremont, Cal.

Baja Governor Elorduy Walther officially made the announcement at a news conference in Tijuana.

“Baja California reqalizes today, in a search for regional development to benefit its inhabitants, an important project that will thrust local economy and will broaden the perspectives of our state worldwide,” said Governor Eugenio Elorduy Walther.

“Toyota and Baja California together for a great state,” he added.

Start of production for the Baja plant is scheduled for 2004, with construction beginning this spring.
Toshiaki Taguchi, president and CEO of Toyota Motor North America, was among several high ranking Toyota officials attending the announcement.

“ As you know, Toyota recently announced plans for selling vehicles in Mexico. We are very excited about establishing manufacturing operations here as well,” Taguchi said. “We very much look forward to becoming a member of the local community and are pleased to have Baja California as the newest member of our growing North American family.”

Company officials said that details regarding employment and investment would be provided in the coming months.

Last May, Toyota Motor Sales, U.S.A. announced the incorporation of its Mexican affiliate, Toyota Motor Sales de Mexico, S.de R.L. de C.V ., which will be in charge of the sales, marketing and service operations of Toyota in Mexico from the second quarter of 2002.

Toyota is the forth largest automaker in North America. By 2003, the company will employ some 33,000 people throughout North America with direct investment topping $13 billion. Toyota currently builds eight vehicles in the U.S. and Canada, including the Avalon, Camry, Corolla, Sequoia, Sienna, Solara, Tacoma and Tundora. The new Matrix will join the North American-produced lineup later this month, and beginning in the fall of 2003, the Lexus RX300 will also be produced in Canada.