Toyota Motor reportedly is set to locally produce pickup trucks and multi-purpose vehicles for markets in developing regions of Asia, Africa and Latin America, according to published reports.
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According to CBS Marketwatch, Toyota will begin producing “international multi-purpose vehicles” or IMVs at its two plants in Thailand this summer, the reports said.
Toyota reportedly said in September 2002 that it would launch its ‘IMV Project’ in 2004, to carry out its worldwide development, procurement and production through tie-ups outside of Japan.
Toyota reportedly said it plans to expand Thai production to 200,00 units a year, half of which will be exported to more than 80 countries and territories within and beyond the Association of South East Asian Nations (ASEAN).
Toyota will then begin production in Indonesia in September, followed by South Africa and Argentina in 2005, Kyodo News reported, according to CBS Marketwatch.
Toyota aims to produce 550,000 IMVs in 2006, Kyodo reportedly said. Almost all the parts used to produce IMVs in Thailand will be procured from suppliers in Southeast Asia, the report said.
