INDONESIA: Toyota to spend US$2.7bn in Indonesia
Toyota Motor plans to spend up to IDR26 trillion (US$2.7bn) to expand its manufacturing operations in Indonesia over the next four years.
The announcement was made after a high level meeting held in Jakarta with the Indonesian government and top executives of Toyota Motor Corporation, including global president and CEO Akio Toyoda, and Daihatsu Motor Corporation, including president Koichi Ina.
A significant part of the investment will be directed towards expanding and strengthening the OE and aftermarket component supply chain, benefiting both domestic and export markets. A stronger and improved supply chain will allow the two brands to improve quality and increase car exports to markets across the region.
Industry minister M S Hidayat said Toyota was looking to export up over 30% of output, from 15% currently.