By 2019, Corolla production will move to the carmaker’s 15th North American factory – a $1bn (€930m) new facility in Guanajuato, Central Mexico. Once complete, this will employ 2,000 staff and have an annual production capacity of 200,000 units.

Toyota Motor Manufacturing Canada, which had built the Corolla, will instead take on production of mid-size vehicles with a higher value. By the end of the decade, the company will have invested $100m (CAD) (€73m) in the Cambridge plant, creating 400 new jobs and introducing hybrids onto the line.

Further investment includes $360m (€336m) in Georgetown, Kentucky, creating 750 new jobs, $150m (€140m) in Huntsville, Alabama, £100m (€93m) in Princeton, Indiana which creates 300 new jobs, $90m (€84m) in Buffalo West Verginia, adding 80 jobs, and volume increases in Indiana, Mississippi, Texas, Canada and Baja California plants.

Guanajuato will be the first plant ready to produce the Toyota New Global Architecture (TNGA) platform, which enables widespread sharing of components across a shared platform.

Jim Lentz, chief executive officer of Toyota North America, said: “Our next-generation production facility in Mexico will be a model for the future of global manufacturing and set a new standard for innovation and excellence.  Transforming our Canadian vehicle assembly plants is an equally important part of our strategic plan to position the North America region for sustainable long-term growth.”