Toyota to establish a new firm in Egypt to produce SUVs

Mon, 25 Oct 2010

Tokyo - Toyota Motor Corp said Monday it will set up a new company in Egypt to manufacture Fortuner sport utility vehicles, its first production base in Africa.

The new company is to be established in mid-December through a joint venture between Toyota, its group firms Toyota Tsusho Corp and Toyota Egypt SAE. It would have a projected annual output of around 3,000 vehicles from early 2012, the world's largest automaker said in a statement.

The new company would outsource assembly of the vehicles to local firms, using parts mostly made in Thailand, Toyota said.

Toyota began exporting vehicles to Egypt in 1979, and sold about 15,000 vehicles in the country last year, the company said.

Source: Earth Times.
Link: http://www.earthtimes.org/articles/news/350318,toyota-to-establish-a-new-firm-in-egypt-to-produce-suvs.html.