Toyota to invest 49b yen to build new car plant in Malaysia
[TOKYO] Toyota Motor Corp said on Wednesday it will invest about 49 billion yen (S$621 million) to build a new, 50,000-cars-a-year factory in Malaysia to meet growing demand in the Southeast Asian country.
The construction would be part of a reorganisation of its Malaysian operations, under which the existing factory would stop building passenger cars and focus on commercial vehicles, Toyota said in a statement.
The new plant, to be located in Klang, in the state of Selangor, will begin operations in early 2019. It will employ new production technologies such as compact painting booths that are also set to be introduced at Toyota's other new plants, including in Mexico and China, it said.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
GM CEO Barra compensation fell 4% in 2023 to US$27.8 million
Boeing reports first revenue drop in 7 quarters as deliveries decline
Volkswagen to keep China market share stable as price war rages
COE quota for May-July up 2.7%; passenger car categories rise despite less cut-and-fill
Tesla profits tumble but shares rise on new vehicle plan
Volvo Cars see good demand this year after higher Q1 unit sales