Toyota Doubles Investment to US$60 Mln in Vietnam

Toyota Boshoku Haiphong Co.Ltd has decided to double its registered capital to US$60 million to expand car parts manufacturing operations in Vietnam, Vietstock newspaper online reported early this week.

 

The company targets to produce to 12,000 safety air bags for cars daily, up from current 7,000 units/day, and expand its production of air filter system for automobile, said company general director Takatoshi Sekihara on the day he received approval from local authorities.

 

Toyota will continue injecting more funds into its local operations in the future as local demand for car accessories is growing, noted Takatoshi Sekihara.

 

Toyota facility in Haiphong covers 5 square hectares and provides 400 jobs. (Vietstock)