Toyota to Invest R$1 Billion in its Plant in Brazil to Produce New Vehicle
September 19 2019 - 1:11AM
JCN Newswire (English)
Toyota Motor Corporation announces that Toyota do Brasil Ltda.
(TDB), TMC's Brazilian sales and manufacturing subsidiary, has just
formalized its intention to invest R$ 1 billion in its Sorocaba
Plant in Sao Paulo, Brazil. The plant, which opened in 2012 and
already produces the Etios and Yaris models, will be responsible
for the manufacture of a new model in the Brazilian market
scheduled for commercialization in 2021.
The choice of Sorocaba Plant was due to the initial project of the
unit, which already provided for the possibility of expansion, as
well as the logistics ease of suppliers. To start production of
this new vehicle, Toyota plans to hire 300 new employees.
Masahiro Inoue, CEO of Toyota Latin America & Caribbean and
Chairman of TDB stated that, "Toyota's commitment to the
development of the Brazilian automotive industry and to Brazil is
only possible with a strong partnership between the various
stakeholders of the company. This announcement of another
investment we make in Brazil is the result of the joint work of our
employees, suppliers, dealers, unions and the government and
reinforces our long-term vision in the country."
Details on the new vehicle, engine, and exact release date will be
shared at a later date.
"This announcement of another investment represents a stronger
Toyota in Brazil," added TDB President Rafael Chang. "During this
decade, which meant challenging times for the economy and the
automotive industry, Toyota remained true to its commitment to
pursue the smile of its customers, growing sustainably, seeking
greater business competitiveness and, fundamentally, contributing
to the development of its businesses where it operates."
About Toyota Motor Corporation
Toyota Motor Corporation (TMC) is the global mobility company that
introduced the Prius hybrid-electric car in 1997 and the first
mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in
Toyota City, Japan, Toyota has been making cars since 1937. Today,
Toyota proudly employs 370,000 employees in communities around the
world. Together, they build around 10 million vehicles per year in
29 countries, from mainstream cars and premium vehicles to
mini-vehicles and commercial trucks, and sell them in more than 170
countries under the brands Toyota, Lexus, Daihatsu and Hino. For
more information, please visit www.toyota-global.com.
Source: Toyota Motor Corporation
Contact:
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
Tel: +81-3-3817-9926
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