Toyota doubles capacity in VietnamBy Hung Le Toyota Vietnam has plans to invest an additional US$75 million in its factory in Vinh Phuc Province to double its auto manufacturing capacity in Vietnam - PHOTO: LE HOANG HCMC - Toyota Vietnam has plans to invest an additional US$75 million in its factory in Vinh Phuc Province to double its auto manufacturing capacity in Vietnam, officials said. The news has shocked the industry as the company recently slashed the number of locally assembled vehicles it sells. The factory’s annual capacity will be raised to 90,000 units from the current 45,000 units by 2023. Toyota Vietnam will lease an additional 9.1 hectares of land to expand its production base in Vinh Phuc to some 30 hectares. The Japanese automaker has poured nearly US$90 million into its factory in Vietnam for 22 years. The additional investment will be used to build new test roads to meet the requirements of Decree 116/2017/ND-CP on the manufacture, assembly and import … [Read more...] about Toyota doubles capacity in Vietnam
By Reuters  June 13, 2018 | 10:26 am GMT+7 A man walks past a Grab office in Singapore March 26, 2018. Photo by REUTERS/Edgar Su This is the largest invesment ever by an automaker in the global ride-hailing sector. Toyota Motor Corp has agreed to invest $1 billion in Southeast Asian ride-hailing firm Grab as a lead investor in the company’s ongoing financing round, which was launched after it bought Uber Technologies’ regional business. The investment by Toyota is the largest-ever by an automaker in the global ride-hailing sector, the six-year old start-up said in a statement on Wednesday. It will allow Grab to further expand its range of online to offline services, such as food delivery and digital payments, deeper into the region. A Toyota executive will be appointed to Grab’s board of directors and a dedicated Toyota team member will be seconded to Grab as an executive officer, the ride-hailing firm said. Toyota’s trading arm … [Read more...] about Toyota Motor to invest $1 billion in ride-hailing firm Grab
Thousands of completely built-up (CBU) cars imported from the ASEAN and enjoying tariff exemption have arrived to Vietnamese seaports, while domestic automobile manufacturer Toyota Motor Vietnam has just expanded its local factory. Will TMV reduce the price of Toyota vehicles to compete with tax-exempt imports? There are 300 Honda cars in this container alone A cargo ship carrying thousands of CBU cars imported from Thailand has arrived at Haiphong Port several days ago, carrying Honda, Chevrolet, Ford, and Nissan vehicles, according to dantri.com.vn. An officer at Haiphong Port told that this cargo ship came from Thailand and could carry around 4,000 vehicles. In late June, another cargo ship from Indonesia will arrive, carrying Toyota vehicles among others. Thus, after a spell of quiet, tax-exempt imported cars from Thailand are flowing into Vietnam, matching consumers’ “thirst” for cars. Honda dealers sign contracts with customers and agree to handover … [Read more...] about Will Toyota drop prices to take on imported competition?
The coaches of this year’s Toyota Junior Football Camp 2018. From left: footballer Phan Thanh Bình, deputy director of TMV Đỗ Thu Hoàng, pop singer Tuấn Hưng and football manager Lê Huỳnh Đức. — Photo xedoisong.vn Viet Nam News HCM CITY — The Toyota Motor Việt Nam Company (TMV) officially launched the Toyota Junior Football Camp 2018 at a press conference on May 22 at the Pullman Sài Gòn Hotel. The event will take placed from June 10 to September 20, with the support of Ministry of Education and Training. The event, in its fourth year in Việt Nam, aims to search for and train youngsters from 9-12 years old, nurturing their passion for football and raising their awareness of the need for a healthy body, soul and discipline. TMV also hopes the programme will nuture a young generation of footballers for the future. “We are glad the programme has become one of the most anticipated … [Read more...] about Toyota Junior Football Camp 2018 officially kicks off
Former renowned footballer Le Huynh Duc will be the head coach of the Toyota Junior Football Clinic & Camp 2018 (Photo: VNA) HCM City (VNA) – Young football talents in Vietnam will have a chance to pursue their dream when the Toyota Junior Football Clinic & Camp 2018 returns this June. The initial selection round will be held in Hanoi, central Da Nang city, Pleiku city of the Central Highlands province of Gia Lai and Ho Chi Minh City from June 10 to July 1. Thirty selected children will take part in a training programme at Ton Duc Thang University in HCM City from July 10 to 16. After this course, the 18 best players will compete at the Toyota International Junior Cup slated for September 13 – 20 in Japan. Former renowned footballers Le Huynh Duc and Phan Thanh Binh will be the head and deputy head coaches of the camp. At a press conference in HCM City on May 22, Deputy Director General of Toyota Motor Vietnam Do Thu Hoang said the camp, first held in 2015, … [Read more...] about Toyota camp helps young talents nurture football dreams