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Sao Paulo, Brazil, July 16, 2010 - (ACN Newswire) - Toyota Motor Corporation (TMC) announces today it is to build a plant in Sorocaba, Sao Paulo, Brazil for Toyota do Brasil Ltda. (TDB), TMC's Brazilian sales and manufacturing company.
TMC purchased land for the plant-to be TBD's third-in July 2008. TMC has decided to start construction in September 2010, with production of a newly developed compact car to begin in the second-half of 2012. nitially, approximately 70,000 vehicles will be produced annually at the plant, which will be constructed at a cost of approximately 600 million U.S. dollars and employ approximately 1,500 people. Plans include production for export.
TFB was established in 1958 as TMC's first overseas production base. Currently, the company produces parts at its Sao Bernardo Plant and the "Corolla" at its Indaiatuba Plant.
In pursuing sustainable growth, TMC intends to expand local production in line with market growth in Brazil and other emerging markets. Based on its principle of contributing to local society through the manufacturing of automobiles, TMC aims to continue contributing to Brazil's automotive industry and to offer Brazilian consumers attractive products that meet their needs.
Contact:
Toyota Motor Corporation
Corporate Communications Department
Public Affairs Division
Tel: +81-3-3817-9150
Topic: Press release summary
Source: Toyota Motor Corporation
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network
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