Toyota to build new plant in Myanmar
Toyota has announced it will produce the Hilux locally in Myanmar, where it has established Toyota Myanmar (TMY) as its first vehicle production company in Myanmar.
The company plans to construct a new plant in the Thilawa Zone, situated in the southern suburbs of Yangon city, the country's largest metropolis.
Investment is expected to be approx. 52.6 million USD.
Toyota plans to hire 130 new employees, and intends to build 2,500 Hilux vehicles per year using the SKD (Semi Knock-Down) method when operations begin in 2021.
The company currently sells the Hilux, Vios, Rush, and other vehicles in Myanmar by relying on imports, but will establish Toyota Myanmar in June and "promote initiatives that will allow even more customers to choose Toyota vehicles, in preparation for a market that promises to continue expanding steadily".