Photo: Toyota
Despite the inflation energy supply problems and harsh trade policies in Argentina, the automotive production has been growing steadily in recent years, with 764,000 vehicles produced last years.
As a result, Toyota Motor Corporation plans to invest around $800 million in order to boost the production capacity at the Buenos Aires manufacturing plant.
"This is just one more example of the confidence that Toyota Motor Corp. has in Argentina," said Steve St. Angelo, chief executive officer for Toyota in Latin America and the Caribbean, in a video posted on a government website.
The investment will almost double the size of the factory, which will provide a total vehicle output of 140,000 units per year, compared to the current 92,000.
Toyota Argentina was founded in 1994 and begun production in 1997. It currently employs about 4,300 people.
"This is just one more example of the confidence that Toyota Motor Corp. has in Argentina," said Steve St. Angelo, chief executive officer for Toyota in Latin America and the Caribbean, in a video posted on a government website.
The investment will almost double the size of the factory, which will provide a total vehicle output of 140,000 units per year, compared to the current 92,000.
Toyota Argentina was founded in 1994 and begun production in 1997. It currently employs about 4,300 people.
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