Toyota Motor said its Thai unit will increase annual Innovative International Multi-purpose Vehicle (IMV) production capacity at its Ban Pho Plant from 140,000 units to 220,000 units in August 2011 while the Argentine factory will increase capacity from 70,000 units to 90,000 units in November 2011, taking global capacity to about 900,000 units.
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Siam Toyota Manufacturing will also boost annual IMV diesel engine production capacity from 220,000 units to 330,000 units. Total investment for the increases is expected to be JPY25.5bn.
Toyota said the move was a response to expanding demand, particularly in emerging countries such as in Asia and the Middle East.
“TMC’s IMV project – for quickly supplying low-cost vehicles that meet the needs of customers around the world – is creating an optimal overseas production and supply network by making production bases in Asia, South America and South Africa into IMV global supply centres,” the automaker said in a statement.
TMC launched the project with the start of production of the Hilux in Thailand in 2004 and has gradually expanded the project since then. IMVs are currently produced in 11 countries and regions around the world and sold in approximately 140 countries and regions.
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By GlobalDataCumulative IMV exports from Thailand reached 1m units last July of this year. TMC expects IMV sales this year to reach a record high of 800,000 vehicles.
