TOKYO Nov 20 Mazda Motor Corp will
begin production at its new Mexico factory in January, the
carmaker's chief said on Wednesday, describing the plant as a
key foreign base for the Japanese company as it pares its
reliance on domestic output.
"I just visited the Mexican plant and all preparations are
complete," Mazda's head, Masamichi Kogai said at a press
conference at the Tokyo Motor Show. "This factory will become a
crucial overseas base for Mazda," he added.
Selling just over a million cars a year and with most of its
vehicles built in high-cost Japan, Mazda has struggled to
compete with bigger automakers that are 10 times its size. In
the four years to March 2012, the company chalked up combined
net losses of nearly 250 billion yen ($2.5 billion).
Since losing the backing of Ford Motor Co, which once
owned a third of the Hiroshima-based company, Mazda has drawn
closer to Toyota Motor Co winning access to its hybrid
technology. Mazda will also build cars for Toyota at the Mexico