Friday, 19th October 2012
In General Japan News,
Toyota to expand production in Thailand
Toyota Motor Corporation announced yesterday (October 18th), that it plans on expanding its production in Thailand.
From 2015, the company's subsidiary, Siam Toyota Manufacturing Co Ltd, will increase the production capacity of diesel engines utilised in Innovative International Multi-purpose Vehicle Project* (IMV) series vehicles.
The company is focused on meeting the increasing demand in emerging markets with this expansion plan.
Annual production capacity of the diesel engine will be boosted by around 290,000 units, which will total 610,000 per year.
Approximately 450 new jobs will be created and 40 billion yen (just over £314 million) will be invested into the project.
With Thailand as a global supply base, diesel engines made at Siam Toyota Manufacturing will continue to be delivered to vehicle plants around the country.
Toyota has stated that "exports to emerging markets are also being considered".
The Japanese giant aims to promote and increase local production. It seeks to source major component supply in conjunction with vehicle production, in keeping with its philosophy of making vehicles where they are sold.
Posted by Graham McPherson
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