Toyota Invests $360M in Vietnam for First Hybrid Vehicle Line
Toyota Motor Vietnam has announced a significant investment of over $360 million to launch its first hybrid vehicle production line in the country. This move aims to deepen local manufacturing and supply chains, while also strengthening Vietnam's automotive base.
The Japanese automaker, which has been operating in Vietnam since 1995, has produced over 700,000 vehicles and delivered more than one million units to customers. Its top-selling model, the Vios sedan, has seen remarkable success with 263,092 units sold.
Toyota's exports of parts and components have already generated nearly $1 billion, reflecting the company's commitment to the local economy. The upcoming modernization of its headquarters and plant, along with the new hybrid production line, signals further investment in Vietnam's automotive industry.
Looking ahead, Toyota plans to expand local assembly and reduce its reliance on imports. This strategy is expected to boost Vietnam's automotive base and create more jobs in the sector. In 2024, Toyota was recognized as one of Vietnam's top 10 taxpayers, with payments reaching $14.4 billion.
With this latest investment, Toyota continues to demonstrate its long-term commitment to Vietnam. The launch of the hybrid vehicle production line, along with other modernization efforts, is set to enhance the company's contribution to the local economy and the automotive industry.
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