Toyota to begin auto assembly in Myanmar in 2021
NAYPITAW (Eleven Media Group/ANN) - Toyota got 21 hectares of land in Myanmar to establish a car assembly plant and start manufacturing autos in 2021.
Myanmar-Japan Thilawa Development Company has got 21 hectares of land in Thilawa Special Economic Zone (SEZ) to establish a car assembly plant and start manufacturing autos in 2021.
Myanmar-Japan Thilawa Development Company is also performing an operation of the SEZ in addition the development purpose. The MJTD has 2400 hectares of land in the SEZ for implementation. There are 405 hectares in zone-A and the implementation has been completed. The implementation continues in zone-B. The zone-B is being implemented phase by phase. Toyota Company from Japan has got 21 hectares of land in the zone-B, said an official of Myanmar-Japan Thilawa Development Company.
Toyota Company will establish an auto assembly with an investment of US$ 52.6 million and assembly 2,500 units of Toyota Hilux by SKD system a year starting from 2021, according to the statement of Toyota Motor Corp in May.
Toyota Motor Corp, the automobile branch of Toyota, will found Toyota Myanmar Co., Ltd and manufacture Toyota Hilux autos.
Toyota Myanmar (TMY) plant will be built in Thilawa SEZ and US$ 52.6 million will be invested and 130 employees will be appointed. The TMY will begin operations in 2021. Starting from 2021, 2,500 Toyota Hilux autos will be manufactured a year through SKD (Semi Knock Down) system.
The total share of TMY includes 85 percent from Toyota Motor Corporation and 15 percent from Tsusho Corporation.
The demand for the purchase of new autos is enormously increasing in recent years in the domestic auto market. According to the market data in 2018, some 18,000 units were manufactured and the number is more than twofold, compared to the previous year.
Toyota is now selling Toyota Hilux, Vios, Rush and other brands and Toyota Myanmar (TMY was founded in June in 2019.