Toyota Motor Co. said it will sharply increase its vehicle production in Thailand, which will become the company’s core global output base, according to a report Friday by Japanese national broadcaster NHK.
Toyota President Akio Toyoda said Thursday his company will increase its annual output capacity in Thailand to 1 million units, about 50% more than the current level of 670,000 units per year, NHK said on its website.
Mr. Toyoda made the announcement at a ceremony in Bangkok to commemorate the 50th anniversary of the firm’s Thai unit, the report said.Mr. Toyoda said the experience of overcoming last year’s flooding in Thailand will lead to a strong production system, the report said.Toyota is the largest auto maker in Thailand in terms of sales, with three plants in the country. Toyota also exports the vehicles made there to over 100 countries.