Bidness ETC - Toyota Motor Plans To Double The Size Of Its Headquarter in Plano

Toyota Motor has finally decided to double the size of their headquarters situated in Plano.

Toyota Motors Co. is on the roll where it not only promised to launch two hybrid vehicles in China by the end of this year but has now also reported of making its products and services better. Thus for the same reason, the company has decided to double the area of their headquarters situated in Plano.

The company has been working on this venture since a fairly long time where engineers had been speculating about the project since months. However, the company has now finally decided to double the size of their Plano headquarter than what was initially proposed.

The Plano zoning and planning commission has unveiled a new modified plan which denotes that the headquarters of the company in West Plano has been estimated to increase by above 2.1 million square feet area.

This is a massive breakthrough for the company since after this Toyota’s headquarter will be the largest commercial project in New Texas as well as one of the biggest ventures within the state.

According to the initial engineering documents that have been obtained, the project shows almost half dozen offices along with other commercial buildings. Apart from this separate parking areas area will be reserved on the site that is approximately 99.8 acre. The new headquarter will be built on Legacy Drive which is just south of the State Highway.

Moreover, the aforementioned parking area will be able to park 7,000 cars which indicate that earlier the number of parked vehicles in the vicinity was extremely low.

Previously, Toyota claimed that less than 4,000 individuals will be employed at the company’s office campus when it comes into operation in the fiscal year of 2017. Later they stated that another 1,000 individuals hired on contractual basis would also be located in the vicinity. Through this, the company will put an end to their southern California based office.

“While we are still in the planning stage and no final decisions have been made, our new campus will likely be larger than originally reported to accommodate not only our team members but also some portion of our corporate partners, consultants and contingency staff,” mentioned Toyota spokesperson.

The architect based in Dallas namely Corgan is designing the office for Toyota in Plano. Initially, it was estimated that the project would cost the company almost $350 million. The company started construction on this site earlier in 2015.

Hence, Toyota Motors is now all set to make the grandest entry through their new office which will be situated in Plano.

Bidness Etc - Toyota's Mexico Plant To Make Its Way Soon

Toyota to establish an assembly center in Mexico

Toyota Motor is focusing on expansion. Thus, for the same reason is coming up with ways to come up with an assembly plant situated in Mexico. The board of directors at Toyota is coming up with ways to get the Mexico-based center approved so that the work can initiate in May 2015. The company officials who have knowledge of the company’s plan stated to Reuters.

According to sources, this plant will be a massive breakthrough for the company as the company will be able to start the production of the Corolla Sedans by 2009. Many other companies in the automotive business have been making massive investments to kick off their businesses in the right direction. Volkswagen has also worked on a similar project and now Toyota is also in the race where the company will invest more than $1 billion in this venture.

However, the company is going to the strategy of its president, Akio Toyoda who believes that expansion on such a massive scale can cause the quality of the product to suffer. Toyoda believes when the company starts the production on such a mass scale then quality goes down and quantity only remains. In 2009, the company encountered a similar experience when they had to encounter a crisis due to expansion compromising on quality.

Toyoda now changed his approach and started the search for a site in Mexico that could help them increase the production. Moreover, he also encouraged executives at Toyota to increase the production overall.

Through what it seems like now, Toyota Motor Corp (ADR) (NYSE:TM) just wants to stream in money and for this the company is not even hesitant to invest hefty amounts. Assembly plants are the only things that can increase production and stream in revenues. So Toyota’s effort will be beneficial to them. However, no one knows yet why Toyoda has completely changed his mindset.

"We are always evaluating our production capacity in Mexico, and in North America generally, to keep it in line with local market demand, but no such decision has been made at this time," reported Toyota’s spokesman Itsuki Kurosu

Toyota company is also looking up for more land so that they can go global on a large scale. The change in strategy indicates that the company at this stage wants to get money. Obviously, increasing production results in a decline in terms of quality and Toyota is all set to embrace this fact.

Hence soon will be able to see an assembly plant that adds to the portfolio of Toyota resulting in more compact Corolla Sedans.