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.
New vehicle sales in Vietnam jumped by 34% to 8,001 units in April, from a depressed 5,972 units in the same month of last year, according to data released by the Vietnam Automotive Manufacturers Asso...
US-based electric car maker Tesla Motors has posted its first ever quarterly profit in the first quarter as it also said it exceeded its target for deliveries....
Toyota Boshoku has concluded an agreement to establish a joint venture in Pakistan with Pakistani automotive component maker, Thal, and Toyota Tsusho....
Toyota Motor Corporation boosted full fiscal year operating income from JPY355.6bn to JPY1.32 trillion, an increase of JPY965.2bn. Net income rose from JPY283.5bn to JPY962.1bn on sales up 18.7% to J...
- ANALYSIS - Jaguar takes on Porsche with F-PACE
- THE WEEK THAT WAS - platforms to go to
- Peugeot steps up a gear with new 3008
- Delphi Powertrain VP on compliance - Q&A
- Geely/Volvo architecture cooperation bears fruit
- Peugeot reveals revamped 3008 compact SUV
- Tesla chooses Mando for autonomous technology
- US and UK motorists divided on driverless cars
- GKN wins plug-in AWD axle deal
- Volvo previews 2017 40 series on CMA platform