Toyota to stop building new plants

May 29, 2014 2:07 am

Toyota Motor Corp has said that it would refrain from building any new plants for at least two more years, even after becoming the first auto company to make more than 10 million cars in a single year, Dow Jones has reported. The Japanese carmaker said it plans to heed the lessons it learned during the global financial crisis that began in 2007, when it struggled for several years with overcapacity before demand recovered. “Building a new plant is a rather simple solution because people with money can do it,” said the executive vice president of Toyota, Nobuyori Kodaira, in a briefing with journalists in Tokyo. “But not building new plants can stimulate wisdom and new thoughts.”