MEXICO CITY: Japanese carmaker Toyota will invest US$328 million more in a plant in the central Mexican state of Guanajuato, it said on Thursday (Jun 8), as it looks to adapt its production processes for a new hybrid model of its Tacoma pickup truck. 'The new version of the 'Mexican pickup' will be hybrid
MEXICO CITY: Japanese carmaker Toyota will invest US$328 million more in a plant in the central Mexican state of Guanajuato, it said on Thursday , as it looks to adapt its production processes for a new hybrid model of its Tacoma pickup truck.
The funds will help adapt manufacturing for the new Tacoma model for a North American market, it added. Carmakers worldwide are shifting production away from internal-combustion engines to more electric-powered vehicles as they seek to comply with the advent of more stringent emissions rules intended to curb the worsening impacts of climate change.
Mexico has about 1,100 charging stations, mostly clustered in large cities, restricting long-distance EV drives. Hybrid vehicles, however, could be a step forward until there is more investment in EVs, according to industry analysts.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Argentine fintech Uala to offer high-yield accounts in MexicoMEXICO CITY : Argentine fintech unicorn Uala said on Wednesday it launched a high-yield savings account in Mexico after getting approval from regulators to acquire Mexico's ABC Capital Bank and expand operations in the country. Launching the account at an event in Mexico, Uala said the high-yield account
Read more »
Brazil's Nubank hits one million accounts in Mexico in one monthMEXICO CITY : One million people in Mexico have opened savings accounts in Brazilian digital bank Nubank one month after the product's launch, the company said on Wednesday, with deposits amounting to 1 billion pesos ($58 million).About 90 per cent of the deposits are being kept in Nubank's so-called 'lit
Read more »
Vaquitas still exist, but barely: Sea 'panda' surveyMEXICO CITY: The vaquita, a small porpoise on the verge of extinction, is still hanging in there, said scientists on Wednesday (Jun 8) who had spotted about a dozen specimens of Mexico's 'panda of the sea' on an expedition in May. The vaquita is the smallest of all porpoises, similar to dolphins but with s
Read more »
Court upholds Musk's win in $17b lawsuit over Tesla-SolarCity dealA trial court properly found that Tesla IncBCEO Elon Musk did not push the electric carmaker to overpay for SolarCity in 2016, the Delaware Supreme Court said on Tuesday (June 6), ending years of litigation over the US$2.6 billion (S$3.5 billion) deal. Musk was the biggest shareholder in both companies at the time, and Tesla shareholders alleged the billionaire pushed...
Read more »
California DMV conditionally approves Mercedes-Benz's automated driving techThe California Department of Motor Vehicles on Thursday approved Mercedes-Benz's automated driving system on designated highways under certain conditions without the active control of a driver.The German carmaker beat competitors such as Tesla, Alphabet's Waymo and GM's Cruise in becoming the first carmak
Read more »