TMC to boost Thai and Argentine imv production capacity
Toyota Motor Corporation (TMC) announces that it will increase Innovative International Multi-purpose Vehicle (IMV) production capacity in Thailand and Argentina in response to expanding demand, particularly in emerging countries such as in Asia and the Middle East.
Toyota Motor Thailand Co., Ltd. (TMT) will increase annual production capacity at its Ban Pho Plant from 140,000 units to 220,000 units in August 2011. In addition, Toyota Argentina S.A. (TASA) will increase annual production capacity from 70,000 units to 90,000 units in November 2011. As a result of these increases, global IMV production capacity will reach approximately 900,000 units. Siam Toyota Manufacturing Co., Ltd. (STM) will also boost annual IMV diesel engine production capacity from 220,000 units to 330,000 units. Total investment for the increases is expected to be 25.5 billion yen.
TMC's IMV Project—for quickly supplying low-cost vehicles that meet the needs of customers around the world—is creating an optimal overseas production and supply network by making production bases in Asia, South America and South Africa into IMV global supply centers. TMC launched the project with the start of production of the "Hilux" in Thailand in 2004 and has gradually expanded the project since then. IMVs are currently produced in 11 countries and regions around the world and sold in approximately 140 countries and regions. The project is steadily achieving significant results, including reaching cumulative IMV exports from Thailand of 1 million units in July of this year. TMC expects IMV sales this year to reach a record high of 800,000 vehicles.
Going forward, TMC will continue to provide vehicles that suit market needs on a global basis through optimal supply systems.