Toyota puts 150 mln euros into Corolla production in Turkey

Toyota held a line-off ceremony on Monday for the production of its new Corolla at its plant in Sakarya province after investing 150 million euros in the facility. A previous Corolla model was produced there seven years ago.

Toyota puts 150 mln euros into Corolla production in Turkey

Toyota held a line-off ceremony on Monday for the production of its new Corolla at its plant in Sakarya province after investing 150 million euros in the facility. A previous Corolla model was produced there seven years ago.

The investment, which created 900 new jobs and boosted production capacity at the plant to 180,000 vehicles a year, will bring Turkey about $1 billion a year in export revenue.

Attending the ceremony along with Economy Minister Zafer Çağlayan and Technology Minister Nihat Ergün, Toyota Chairman Takeshi Uchiyamada said, “Corolla will call Sakarya its home once again.” Noting that the Sakarya plant has produced 1.3 billion vehicles for the company, Uchiyamada called the plant a high-quality production facility and praised its hardworking employees. “My belief is now more than ever in Toyota's growth in Turkey,” he added.

Meanwhile, the Turkish ministers urged Toyota to build an R&D center in Turkey and produce hybrid vehicles for the domestic market. They also said that investing in Turkey would make Toyota more competitive in the global market and that the company shouldn't hesitate to invest in the country.

Toyota manufactures its Corolla Verso and Auris models in Turkey before shipping them to 30 countries, mainly in Europe. Before the new investment, the Turkey plant had an annual production capacity of 150,000 units and the plant is considered one of Toyota's 10 largest overseas manufacturing operations.

Cihan

Güncelleme Tarihi: 03 Temmuz 2013, 10:55
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