BUSINESS INFORMATION - Toyota Motor on Friday said it had stopped the factory in California that is shared with allies, the U.S. automobile giant, General Motors (GM). AFP writes that step marked the first time cessation of production at the plant.
Steps that seem to be tails to the factory following the closure of GM's decision in June to reduce its shares in joint ownership at New United Motor Manufacturing Inc.. GM did it as a restructuring under bankruptcy protection.
Toyota had not been previously involved in the closure of one assembly plant in the world, so this will be the first time for the largest automakers in the world.
Plant in Fremont, California, produces cars like the Corolla compact sedan and a pickup truck the Tacoma and employs 4700 workers, Toyota said.
The company will transfer production of the Tacoma pickup truck into manufacturing fasilitsa in San Antonia, Texas, while the Corolla will be produced in Canada and Japan to the North American market.
Toyota is taking over U.S. rival, GM, the largest automotive manufacturer in the world, struggling to cut costs after a fall into the red category for the first time, with losses reaching 436.9 miliara yen (4.7 billion U.S. dollars) during the year to March .
Nikkei Business Daily, Wednesday, reported that Toyota plans to cut world production capacity of up to one million vehicles, or down 10 percent.
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