The People's Committee of northern Phu Tho Province on August 28 held a ceremony to present a decision on the adjusted investment policy and the Investment Registration Certificate to Toyota Motor Vietnam.
The project involves the assembly and manufacturing of various types of automobiles and auto parts, the provision of warranty and repair services, and the import of Completely Built-Up (CBU) vehicles for the Vietnamese market.
Under the adjusted terms, the project represents a total investment of over $283 million across an area of more than 28.6 ha. It features a production and assembly capacity of approximately 52,000 vehicles per year, with construction scheduled to begin in May 2027.
The project adds new objectives, including the assembly and manufacturing of automobiles and parts for electrified vehicle lines. It will also see the implementation of a painting workshop and a stamping workshop for the production of car bodies and other motor vehicles.
These facilities will be developed with a focus on modernizing technology and increasing automation to boost production capacity, ensure product quality, and improve energy efficiency.
The two workshops are expected to become operational in 2029, creating a foundation for the production of new CKD (Completely Knocked Down) models in Vietnam.
This serves as a critical basis for Toyota Vietnam to implement its plan to modernize production operations, enhance competitiveness, and align with the "green transition" trend in the automotive industry.
Google translate