Toyota to begin producing Hilux pickups in Myanmar in 2021
YANGON, NNA - Toyota Motor Corp. will begin producing its Hilux pickup trucks in Myanmar in February 2021 to cash in on the Southeast Asian country’s growing vehicle market.
Toyota will set up Toyota Myanmar Co. with its trading arm Toyota Tsusho Corp. next month, investing about $52.6 million to build a plant with annual output capacity of around 2,500 units, it said Thursday.
Japan’s largest automaker said it will assemble the Hilux through a semi-knockdown method at the new plant in the Thilawa Special Economic Zone on the outskirts of Yangon, employing about 130 workers. It will import parts from Thailand, its main Asian production hub.
Toyota will hold an 85 percent stake in the local unit and the trading house 15 percent, according to the statement.
In Myanmar, Toyota sells imported Vios sedans, Avanza multipurpose vehicles and the Hilux via T.T.A.S. Co., a local unit of Toyota Tsusho acting as an official local dealership.
The pickup model “has been widely popular in the country and we want to spur more demand in both cities and rural areas,” Yoshihisa Tonozuka, who will be managing director of Toyota Myanmar, told news media in Yangon on Thursday.