SAO PAULO – Toyota Motor Corp. reportedly borrows $90 million from Brazil's National Development Bank (BNDES) as part of a $300 million investment plan aimed at boosting local content in the Corolla. The auto maker plans to increase the number of local suppliers it uses from 45 to 104 in an effort to raise local parts content from 60% to 80%. This year, Toyota do Brasil Ltda. plans to ship 5,100 completely knocked-down Corollas and 4,400 fully assembled cars to 23 countries in Latin ...

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