Toyota to invest $401 million in Thailand plant for new eco car
Toyota, major automakers in the world today, have announced investment of 12 billion baht (INR 2,156 crores or $401 million) in construction of a new plant at Gateway 2 in Chachoengsao, Thailand.
This new plant is actually an expansion of the companyâ€™s existing facility at Gateway and will be operational by third quarter of this year. Once ready, it will have an annual capacity of 300,000 units per annum.
PaulTan reports, Toyota has innovative plans for their first model scheduled toÂ roll out from the new plant. This will be in the form of a new eco car. Malaysian market has seen an influx of eco cars from other auto majors such as Nissan, Honda and Mitsubishi who have brought out March, Brio range and Mirage respectively. Toyota now joins the band wagon with their newly announced eco car.Â Toyota eco car will be built under Thai Governmentâ€™s Eco Car project which encourages manufacturers to sell these high fuel efficient vehicles with low tail pipe emissions in the country.
The Thai Government offers auto makers attractive incentives to produce these cars under the Eco Car project.Â Toyota has two plants in Chachoengsao, both with capacities of 230,000 units per annum. One of the plants makes passenger cars for domestic sale and for sales in ASEAN region, Australia and Middle East with the other plant concentrates on assembly of Hilux Vigo pickup truck and Fortuner SUV chiefly for export purposes.