Eric Tipan / Toyota | May 19, 2016 09:31
Estimated to cost 30 billion yen
Toyota Motor Corporation continues to see growth in the region and has decided to invest in Malaysia once more to construct its third manufacturing plant.
The new manufacturing plant located in Shah Alam will cost an estimated 30 billion yen (US $273,804,000) and will be a joint venture between Toyota Tsusho and Malaysian conglomerate UMW Holdings.
An official announcement is expected on May 25.
Toyota expects the new manufacturing plant to be operational by 2018 and will have the capacity to produce 100,000 small cars annually.
It will be responsible for increasing the supply in the region while also streamlining productivity between the two other manufacturing plants by taking in some of their production load.
Toyota also plans to construct manufacturing plant in various parts of the world including Guangzhou, China in 2018 and in Mexico in 2019.
Source: Nikkei Asian Review