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Toyota Motor (TMC) said on Thursday (19 September) annual capacity at subsidiary Toyota Argentina’s (TASA) Zarate plant will be boosted from from 92,000 units to 140,000 at the end of 2015.

“TASA’s production capacity is being increased in line with expected further growth in demand in Latin America, and exports are also planned to increase to approximately 110,000 units annually,” Toyota said in a statement.

It will spend about JPY17bn on the capacity increase and updating existing production facilities.

TASA is a supply base for Toyota’s IMV series of ’emerging market’ vehicles produced for export throughout Latin America.

In 2012, TASA exported 63,000 vehicles – about 70% of production – to Brazil and 14 other countries.

“TMC remains committed to activities that are regionally rooted and to contributing to the development of Argentina’s automobile industry and economy,” the automaker said.

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By GlobalData