Toyota's chief vows to stay
Toyota Motor Corporation President Akio Toyoda on Wednesday vowed not to pull the investment out of Thailand, despite fears for the exodus following the worst flooding in nearly 7 decades that have inundated hundreds of Japanese manufacturing plants and c
During his visit to Thailand, Toyoda said that his company is committed to further expand business in Thailand and maintain its leadership in the Thai automotive industry.
He also announced that Toyota's 3 plants in Thailand would resume operations on Nov 21. Auto parts from other production bases like Indonesia will be imported to ensure the resumption.
The three plants, one in Samut Prakan and two in Chachoengsao, have been suspended since October 10, as suppliers in Ayutthaya were inundated. Their combined capacity is 650,000 units per annum.
"We (Toyota) definitely will not cease our investment in Thailand. We will expand the business and the automotive industry in Thailand as a whole. We expect to maintain our leadership in the country," he said.
Toyota this year celebrated its 49th anniversary of operations in Thailand. It is now the biggest auto maker, with the annual production capacity of 360,000 units. It also controls over 40 per cent of share in the domestic market.
Due to floods, Toyota has witnessed a ripple effect as it has to cut down production worldwide, chiefly in Japan, the US, Canada, Pakistan, Indonesia, the Philippnes and Vietnam.
In this visit, Toyoda donated Bt10 million to His Majesty the King, to help aid flood victims.
