A Bronx cheer to “free trade”.
Jim Lentz, chief executive officer of Toyota North America, said the new plant would employ 2,000 people and be the first designed from the ground up with the automaker’s new production and engineering technology, which it calls Toyota New Global Architecture.
Stephanie Brinley, a senior analyst at IHS Automotive, a market research and industry analysis firm, said Toyota had decided to build the compact Corolla in Mexico not only because of cheaper labor costs but also because Mexico had free-trade accords with 45 countries.
“The Corollas that will be built in Mexico can be shipped to far more locations than the Corollas built in Mississippi,” she said. “Mexican production can go to Europe and it can go to South America.”