Toyota Plans for New Domestic Factory – First in 18 years

Toyota Motors hasn't built a new factory in Japan for nearly 18 years.

However, the Toyota Motor Corp group is in the final stages of negotiations for a 50 billion auto plant to be built in Miyagi…a bit north of Tokyo…to replace the Kanagawa prefecture owned by Toyota subsidiary Central Motors Co.

The factory will be near Sendai and construction will start in about 2 years.

Operations will start in 2010 with the aim of producing 100,000 vehicles annually.

Central Motor manufactures Toyota Raum minivans and the Corolla.

Toyota's Sagamihara factory wil close. Overall, domestic production capacity is expected to remain unchanged.

It's about time Toyota did something at home, no?