Toyota Motor Corp. (7203), the last of the world’s major automakers without a full assembly plant in Mexico, is scouting the country for possible factory sites, two people with direct knowledge of the matter said.
The search spans several states, said the people, who asked not to be identified because the details aren’t public. Company executives met this week with Mexican federal officials for preliminary talks about adding a plant in the country, said one of the people.
Mexico is attracting foreign auto producers because of low labor costs and favorable trade accords. While Toyota’s lack of . . .
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