Toyota Motor (TMC) said on Thursday (19 September) annual capacity at subsidiary Toyota Argentina's (TASA) Zarate plant will be boosted from from 92,000 units to 140,000 at the end of 2015.
"TASA's production capacity is being increased in line with expected further growth in demand in Latin America, and exports are also planned to increase to approximately 110,000 units annually," Toyota said in a statement.
It will spend about JPY17bn on the capacity increase and updating existing production facilities.
TASA is a supply base for Toyota's IMV series of 'emerging market' vehicles produced for export throughout Latin America.
In 2012, TASA exported 63,000 vehicles - about 70% of production - to Brazil and 14 other countries.
"TMC remains committed to activities that are regionally rooted and to contributing to the development of Argentina's automobile industry and economy," the automaker said.
Sep. 19, 2013
Toyota to Increase Vehicle Production Capacity in Argentina
Exports also to Increase
Toyota City, Japan, September 19, 2013—Toyota Motor Corporation (TMC) announces that Toyota Argentina S.A. (TASA),
TMC's vehicle production and sales subsidiary in Argentina, will increase the annual production capacity of its Zarate Plant
from 92,000 units to 140,000 units at the end of 2015.
TASA's production capacity is being increased in line with expected further growth in demand in Latin America, and exports
are also planned to increase to approximately 110,000 units annually. Approximately 17 billion yen is to be invested in the
capacity increase and the updating of existing production facilities.
TMC positions TASA as a supply base for IMV* series vehicles produced for export throughout the Latin American market. In
2012, TASA exported 63,000 vehicles—approximately 70 percent of its total annual production—to Brazil and 14 other
countries in Latin America.
TMC remains committed to activities that are regionally rooted and to contributing to the development of Argentina's
automobile industry and economy.
Overview of Toyota Argentina S.A.
President Daniel Herrero
Established May 1994
Location Zarate, Provincia de Buenos Aires, Argentina
Start of production March 1997
Production series Hilux, Fortuner
Production capacity 92,000 units/year
Capital 260 million pesos
Equity participation Toyota Motor Corporation: 100%
Employees Approx. 4,300 (as of April 30, 2013)
*Stands for "Innovative International Multi-purpose Vehicle". The IMV series comprises the "Hilux" pickup truck, the "Innova" minivan and the "Fortuner"
SUV. IMV series models are currently produced in 12 countries and regions and sold in approximately 170 countries and regions worldwide. Annual sales
exceeded one million units for the first time last year.
Original source: TMC