Toyota Motor is planning to open two new assembly plants in China and one in Mexico, marking the end of its three-year freeze on building new vehicle assembly plants.
Reuters reported Toyota's North American head Jim Lentz as saying that the company kept a three-year hold on new capacity investments, and the standstill is over for the company.
According to reports, the Japanese car maker completed initial feasibility studies in Mexico and China to open the plants.
Toyota's Chinese division is reportedly evaluating plans to build the plants in Changchun and Guangzhou, and it is looking for passenger car plant at Guanajuato in Mexico.
In an interview to Reuters, Lentz said: "We're going to grow again. We will climb the staircase.
"But it's a different way than in the past. It's not going to be growth for growth's sake."
Presently, Toyota operates eight assembly lines in China that are capable of manufacturing 1 million vehicles a year.
With its new strategy, the company is likely putting pressure on its competitors including General Motors and Volkswagen.
