The Thaiger
Toyota invests US$283 million to expand hybrid vehicle production in Vietnam
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Toyota Motor Vietnam will upgrade its Phu Tho manufacturing complex for electrified and CKD vehicles, with total registered capacity of approximately 52,000 cars per year.
Key facts
- Toyota Motor Vietnam has secured approval for an investment project worth more than US$283 million, approximately 9.3 billion baht, to expand vehicle and component manufacturing in northern Vietnam.
- Toyota Motor Vietnam will upgrade its Phu Tho manufacturing complex for electrified and CKD vehicles, with total registered capacity of approximately 52,000 cars per year.
- More than 700,000 vehicles produced since 1995
- New paint and stamping facilities planned
- Toyota seeks more locally produced components
- Toyota Vietnam plans to begin constructing a new paint shop and stamping plant in May 2027
Summary
Toyota Motor Vietnam has secured approval for an investment project worth more than US$283 million, approximately 9.3 billion baht, to expand vehicle and component manufacturing in northern Vietnam.
The People’s Committee of Phu Tho province approved an amendment to the project’s investment policy, while the provincial Department of Finance issued Toyota Vietnam its 12th amended investment registration certificate.