Friday 24 May 2013
Hino Motors, the largest Japanese buses manufacturer, said they will build a plant in Mexico in. order to increase international sales, since domestic demand in Japan has gone down, Bloomberg News informed. The Plant, which will be located in Guanajuato, will have a production capacity of 1,200 vehicles per year and will start operations in July 2009, the Company informed in a press release. Hino, which is 50% property of Toyota, is planning to expand outside Japan, because domestic demand by buses and urban transportation lines has dropped due to the increase in oil prices. According to Yoshiro Udagawa, the Company’s spokesman, they sold 272 buses in Mexico in 2007 and forecasts are to sell 1,000 with the new plant.
Hino Motors, based in Tokyo, will hold 80% of Hino Motors Manufacturing Mexico capital stock, in a joint venture with the
Japanese Company Mitsui; the former will invest US$7.2 million, while the latter will contribute with US$1.8 million, the news agency said, quoting Udagawa.
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