Toyota invests $95 million

Toyota invests $95 million

MANILA (AFP): Japanese auto maker Toyota Motor Corp. is to
invest 2.5 billion pesos (US$95 million) to expand manufacturing
operations for automotive parts in the Philippines, an official
of Toyota Motors Philippines Corp. said yesterday.

Transmission production by Toyota Autoparts Manufacturing
Corp. would rise 25 percent to 250,000 units a year with the
infusion of 1.5 billion pesos, Toyota Philippines senior vice
president Florencio Jurado told reporters.

Part of the investment will also go to the production of
constant velocity joints, he said. Ninety-five percent of the
subsidiary's production is exported to Southeast Asia.

The balance of one billion pesos will be used to produce inner
and outer panels for its Tamaraw utility vehicle, Jurado said.
The outer panels are now being imported, he added.