Toyota Motor Corp., which could surpass General Motors Corp. as the world's No. 1 automaker as soon as this year, said Wednesday it will increase capacity at a new assembly plant it is building in Canada.
Annual production capacity at the factory planned for Woodstock, Ontario, will be raised to 150,000 units from an initial target of 100,000 units, the company said. The plant is scheduled to come onstream in 2008.
Total investment in the Woodstock facility, Toyota's second Canadian plant, will amount to about $950 million, the company said. The factory will employ 2,000 people to make the RAV4 sport utility vehicle.