Toyota trucks made in RI

Toyota trucks made in RI

TOKYO (AFP): Toyota Auto Body Co., a production subsidiary of Toyota Motor Corp., will set up a joint venture in Indonesia in May to produce small trucks and auto parts, the Nihon Keizai Shimbun said Saturday.

The new venture, capitalized at 1.2 billion yen (US$120 million), will build a factory in the suburbs of Jakarta by the end of the year, the business newspaper said.

The new firm will be controlled 45 percent by Toyota Auto Body, 40 percent by local auto parts makers, 10 percent by an Indonesian unit of Toyota Motor and the remaining five percent by Toyota Tsusho Corp.

Operation is expected to start in 1996. It will produce 2,500 pickup trucks and another 5,000 commercial vehicles a year for the Asian market, the daily said.