Toyota Motor Corporation announced that it plans to build a new vehicle manufacturing plant in Japan, despite the recent import tariff hikes in the US. Japan’s largest automaker said that it aims to maintain its vehicle production capacity in the country at around 3 million units per year.
Toyota confirmed it plans to acquire additional land for the new facility in the Teihoucho area of Toyota City, Aichi Prefecture, in coordination with all stakeholders including Aichi Prefecture and Toyota City authorities and local residents.
The new plant is expected to begin operations in the early 2030s, with Toyota yet to decide on which models it will produce there, according to the automaker. Toyota said it is working on creating a “plant of the future that uses cutting-edge technology and provides an environment where a diverse workforce can thrive.”
Toyota operates eight vehicle production plants in Japan, producing models under the Toyota, Lexus and Daihatsu brands, and for other brands including Mazda under product sharing partnerships. The company also owns Hino Motors, one of Japan’s largest commercial vehicle manufacturers.
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By GlobalData
