Toyota Motor Corp. is acquiring land in Brazil for a new factory and is studying plans to build compact vehicles there in 2011 or later — the latest move in the aggressive drive by automakers in emerging markets.
The plant will create about 2,500 jobs with a starting annual production capacity of 150,000 vehicles, Toyota said in a statement Wednesday.
The move shows a longtime commitment to adjust worldwide production strategies to building vehicles where they are sold, Toyota said.