Toyota Will Stop Building New Plants Until 2016 image

Nikkei reported that Toyota will not build a new factory until 2016, shop as it will focus its capital investments on the existing facilities.

According to the Nikkei magazine, shop the automaker will not build another plant until April 2016, expect for Indonesia and Thailand plants which were already announced and which are set to start operations this year. Nikkei didn’t reveal where it got the information from and Masami Doi, a spokesman for the Toyota City, refused to comment on this issue.

Toyota, which is Asia’s biggest automaker, plans to get more out of the money it invests in growth, according to Keisuke Kirimoto, a spokesman for the automaker. The company also shares some of it facilities with rivals such as Mazda, with which it shares the Salamanca, Mexico plant.

“I cannot discuss our business plans, but we consider it important to boost investment efficiency to secure medium-to- long-term growth,” Kirimoto said.

On November 10th, Toyota announced it plans to build a new plant in Indonesia and more than double production, in order to meet the increasing demand in this market. In August, the Japanese automaker was announcing its plan to build an engine plant in Sao Paulo, Brazil, which is set to begin production by the second half of 2015.