Bringing the total cumulative investment to €1.4billion ($1.74 billion), Toyota Motor Europe is set to invest €300M in its Toyota Motor Manufacturing France (TMMF) car plant in Valenciennes (France). The Valenciennes facility is to be upgraded to enable future production based on Toyota New Global Architecture (TNGA) which enables the plant to ambition producing 300000 vehicles annually. In addition, 300 permanent contracts will be added with the possibility of another 400 permanent jobs to be added when full capacity is reached.
According to Didier Leroy, EVP of Toyota Motor Corporation and Chairman of Toyota Motor Europe:
“We remain focused on strengthening the global competitiveness of our European plants. The roll-out of TNGA manufacturing capability is part of this plan. The upgrade of TMMF is a sign of confidence in our employees and suppliers, and their focus on superior quality and greater efficiency. We also appreciate French state and local authorities support.”
Dr van Zyl, CEO of Toyota Motor Europe added the following about the new investment:
“This announcement is a good sign for our continuous expansion in France and in Europe. In 2017, Yaris- labelled “Made in France” in 2012 – was again the most produced single model in France. I am fully convinced that this decision will reinforce Yaris’ position as the core of Toyota’s Brand in Europe.”
Toyota Motor Corporation is a Japanese automotive manufacturer headquartered in Toyota, Aichi, Japan. It was founded by Kiichiro Toyoda in 1937, as a spinoff from his father’s company Toyota Industries to create automobiles.
Toyota Motor Corporation produces vehicles under five brands, including the Toyota brand, Hino, Lexus, Ranz, and Daihatsu. It also holds a 16.66% stake in Fuji Heavy Industries, a 5.9% stake in Isuzu, a 3.58% stake in the Yamaha Motor Company and a 0.27% stake in Tesla.