Toyota to spend ¥19 billion on Thai Diesel

Japans Toyota Motor Corp. announced that it would increase Thai production of diesel engines for its Innovative International Multipurpose Vehicle (IMV) by 75%. The automaker will invest some ¥19 billion (US$175.6 million) to build a new factory wing at Siam Toyota Manufacturing Co. in Thailand’s Chonburi Province to boost annual production capacity there to 350,000 units in early 2010 from 200,000 at present. It will also add 700 more workers, bringing the work force to 3,000 people. Most of the additional production will be engines for one-ton pick-up trucks that will be sold within Thailand and in India and Southeast Asian countries. In addition, Toyota formally announced that it would invest more than ¥300 million (US$2.77 million) in a gateway plant in the Thai province of Chachoengsao, with plans to produce 9,000 hybrid Camrys each year starting in 2009. Within the year, the facility will also begin producing Corollas powered by compressed natural gas. (June 11, 2008)