Toyota Motor Corporation has announced plans to begin manufacture of hybrid cars in Turkey in 2016. The project with a projected investment outlay of over 350 million euros is expected to create more than 1,000 jobs. Currently, Toyota’s plant in Turkey manufactures 150,000 vehicles on an annual basis.According to the company’s With the ($396 million), the Japanese automaker said on Thursday.
The investment will create more than 1,000 jobs and Toyota’s Turkish production capacity will rise to 280,000 vehicles from 150,000 currently, European chief executive Johan van Zyl told a news conference.
“This is the first time somebody will make a hybrid vehicle in Turkey,” he said. “The new model will be a crossover, a kind of SUV (sport utility vehicle), the entire world is moving to this kind of body style.”
The investment will increase to 1.7 billion euros the company’s total investment in Turkey. It has a factory in the northwestern province of Sakarya, where it produces Corolla and Verso models.
The new model’s name will be announced at the Geneva car show which begins in March, Toyota officials said. Van Zyl said the vehicle would be exported to 53 countries.
Hiroshi Kato, chief executive of Toyota Motor Manufacturing Turkey, said the company exports 80 percent of its production and this level would rise to around 90 percent once it is in full-year production in 2017.
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
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