Toyota Boshoku Corp. earlier this week announced it will establish a new vehicle interior components production company, Toyota Boskoku Loa Co. , Ltd. in the Lao People’s Democratic Republic in April.
This is the first time the Toyota Boshoku group has built a production base in Laos.
The company will invest 5.6 million to build the factory in the Savan-Seno Special Economic Zone (Zone C) in Savannakhet province .
Annual production is expected to be200,000 units per year. It will employ 180 people.
The new company will serve as a satellite complementing the Toyota Boshoku group production base in Thailand. It will start producing interior components such as vehicle seat covers in April 2014, and supply them to production bases for seats in Thailand.
The group said it is “seeking to further optimize production and distribution in the Asia and Oceania region, which is a crucial market.”