Toyota reportedly resumes assembly operations in Myanmar
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Tun MT (NP News) - Oct 12
Despite of recent quit of the west group’s business units from Myanmar including the Puma Energy, Total Energy, Chevron Auto and Telenor Tele-operator, the Toyota from the G-7 has started its assembly line productions in Myanmar, a Japanese media outlet reported.
The Nikkei Asia’s report says, “Toyota Motor has started operating its assembly plant near Yangon, Myanmar, after a delay of more than 19 months.”
The Toyota Myanmar’s production site is located in Thilawa Special Economic Zone; currently, the dealers reportedly started resuming orders for Toyota vehicles.
At present, the automobile market in Myanmar is facing a stagnant transaction associated with skyrocketed car prices of both locally- produced SKD (semi-knock down) cars and imported used cars (especially from Japan), inflation and fluctuated forex rate in 2022.
The Toyota Myanmar originally planned to hire 130 new employees for its local assembly line production in Myanmar. Approximately 2500 Hilux vehicles were schemed to be built per year using the SDK method.