Incoming U.S. President Donald Trump on Thursday criticized a plan by leading Japanese automaker Toyota Motor Corp. <7203> to build a new factory in Mexico.
"Toyota Motor said will build a new plant" in Baja California, Mexico, to make Corolla cars for exports to the United States, Trump said on his Twitter account.
"No Way!," he said, adding, "Build plant in U.S. or pay big border tax."
This is the first time that Trump has criticized a Japanese company since he won the U.S. presidential election in November last year. The remarks that can be taken as a threat are likely to cause controversy, pundits said.
Nissan Motor Co. said Carlos Ghosn will step aside as CEO after leading the firm for 16 years, allowing him to concentrate on deploying his cost-cutting expertise across its alliance with Renault SA and newly added Mitsubishi Motors Corp. (the-japan-news.com)
Toyota Motor Corp. fell from the top spot in global auto sales for the first time in five years in 2016, outperformed by Volkswagen AG of Germany, according to data released by automakers Monday. (Kyodo)
Nissan is halting joint development of luxury cars with Daimler's Mercedes-Benz, sources close to the companies told Reuters, suspending a key project in their seven-year partnership and potentially hitting profitability at a new shared factory in Mexico. (Japan Today)
Japanese firms are shocked by Donald Trump's Twitter bomb dropped on Toyota Motor Corp. over a planned factory in Mexico, as their concerns about an attack by the U.S. president-elect have become reality. (Jiji)