Toyota 'Fortuner' SUV Knockdown Production to Begin in Kazakhstan
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Toyota 'Fortuner' SUV Knockdown Production to Begin in Kazakhstan - JCN Newswire
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Toyota 'Fortuner' SUV Knockdown Production to Begin in Kazakhstan

 Toyota 'Fortuner' SUV Knockdown Production to Begin in Kazakhstan
Kazakhstan, Feb 12, 2013 - (JCN Newswire) - Toyota Motor Corporation (TMC) signed a memorandum of understanding (MoU) with the government of the Republic of Kazakhstan here today to begin local knockdown production of the "Fortuner" SUV. Production of the vehicle will begin in the spring of 2014 at a facility of Saryarka AvtoProm LLP (SAP) in Kostanay, Kazakhstan at a planned pace of approximately 3,000 units per year.

The MoU was signed at a ceremony here by Kazakh Deputy Prime Minister and Minister of Industry and New Technologies Asset Issekeshev, and TMC Senior Managing Officer Didier Leroy, also President and CEO of Toyota Motor Europe NV/SA, TMC's holding subsidiary in Europe.

At the ceremony, Issekeshev said: "This project is a strategically important step towards the development of the automotive industry in Kazakhstan. I believe it will lead the way for the engineering industry in Kazakhstan."

Leroy commented: "This project is an important milestone for Toyota and Kazakhstan, and is a product of our strong and cooperative relationship with the Kazakh government. We strongly believe that the potential for economic growth and a strong automobile market here is excellent. By starting production locally, we can actively contribute to the acceleration of motorization and industrialization of the country and I am convinced that Toyota will gain a new dimension in the market in order to attract and satisfy more customers."

Concerning the MoU, Toyota Motor Kazakhstan President Shingo Kato said: "We are very pleased by this MoU enabling Kazakhstan production of the Fortuner and I would like to express my heartfelt appreciation to the government and all the other people who made it possible. Once this made-in-Kazakhstan true off-roader begins coming off the line here, we will be able to offer an extended model line-up, including ten imported Toyota models such as the Camry and the Land Cruiser, as well as seven Lexus models."

A contract will be signed later this month defining the roles, outlined below, of the parties involved.

1) TMC: Provision of comprehensive technical guidance and assistance to SAP
2) TMKZ: Vehicle sales
3) SAP: Knockdown production
4) Toyota Tsusho Corporation: Shipment of knockdown kit parts

TMC established Toyota Motor Kazakhstan LLP (TMKZ) as a sales and marketing company in May 2008 to import and sell Toyota- and Lexus-brand vehicles in Kazakhstan. Kazakhstan was chosen as a location for knockdown production in consideration of its market potential.

Based on its founding philosophy of contributing to society through the manufacture of automobiles, TMC is committed to conducting business in a manner that contributes to the continued development of Kazakhstan's automobile industry and economy, as well as to providing products that exceed expectations.
Overview of Saryarka AvtoProm LLP (SAP) 

Location: Kostanay, Republic of Kazakhstan
Establishment: May 2010
President: Rashid Baibulatov
Equity: Allur Avto: 51%, SPK Tobol: 49%
Products: Kyron and six other models
(for SsangYong Motor, South Korea)
Chance (for ZAZ, Ukraine)

Overview of Toyota Motor Kazakhstan LLP (TMKZ)

Location: Almaty, Republic of Kazakhstan
Establishment: May 2008
President: Shingo Kato
Equity: Toyota Motor Europe NV/SA: 100%
Employees: Approx. 50

About Toyota

Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of December 2012, Toyota conducts its business worldwide with 52 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 160 countries and regions. For more information, please visit www.toyota-global.com.

Contact:

Toyota Motor Corporation
Corporate Communications Department
Public Affairs Division
Tel: +81-3-3817-9150
 


Feb 12, 2013
Source: Toyota

Toyota (TSE: 7203) (U.S: TM)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Joint Venture
View more news from these Sectors: Automotive General


 
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