- News>
- Companies & Commodities
Toyota to set up parts` export centre in Vietnam
Hanoi, Oct 10: Top Japanese automaker Toyota said today it will begin exporting auto components sourced and made in Vietnam to the company`s plants across the globe from next year.
Hanoi, Oct 10: Top Japanese automaker Toyota said today it will begin exporting auto components sourced and made in Vietnam to the company's plants across the globe from next year.
The announcement marks a significant expansion by the company from its traditional car manufacturing and sales operations in Vietnam and forms part of its worldwide "IMV
project".
The project, which was announced in September last year, is aimed at setting up a network to supply vehicles and components to Toyota Motor Corp. plants around the world from production bases outside of Japan.
This new network is expected to become operational in mid-2004.
Work began on the construction of Toyota Vietnam's new export centre on Thursday at the company's Vietnamese headquarters in the northern province of Vinh Phuc, north of Hanoi, its spokeswoman Tran Thu Mai said.
Initially it will source parts for a new multi-purpose vehicle from two japanese-invested local auto parts makers for export to its plants in Argentina, Indonesia, India, South Africa and Thailand.
In the second stage, the parts will be exported to Toyota's operations in Malaysia, Philippines, Pakistan and Venezuela, the company said in a statement.
Eighty per cent of parts sourced from Vietnam will be exported, with the rest being used for Toyota's manufacturing operations here, it added.
Bureau Report
The project, which was announced in September last year, is aimed at setting up a network to supply vehicles and components to Toyota Motor Corp. plants around the world from production bases outside of Japan.
This new network is expected to become operational in mid-2004.
Work began on the construction of Toyota Vietnam's new export centre on Thursday at the company's Vietnamese headquarters in the northern province of Vinh Phuc, north of Hanoi, its spokeswoman Tran Thu Mai said.
Initially it will source parts for a new multi-purpose vehicle from two japanese-invested local auto parts makers for export to its plants in Argentina, Indonesia, India, South Africa and Thailand.
In the second stage, the parts will be exported to Toyota's operations in Malaysia, Philippines, Pakistan and Venezuela, the company said in a statement.
Eighty per cent of parts sourced from Vietnam will be exported, with the rest being used for Toyota's manufacturing operations here, it added.
Bureau Report