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Toyota announces $792m expansion of Czech plant to build new electric car
Toyota's investment will expand the Kolin plant, creating 245 jobs and increasing capacity beyond 220,000 cars annually with locally sourced components, aided by a €64 million government incentive.
- Toyota revealed plans this Wednesday to allocate 680 million euros toward expanding its Kolin facility in the Czech Republic for the production of a new battery electric vehicle.
- This move aligns with Toyota's goal to operate with zero carbon emissions across its European facilities by 2024 and includes government funding support of up to 64 million euros.
- The factory will be enlarged from 152,000 to 173,000 square meters to accommodate a new battery assembly area, as well as upgraded painting and welding sections.
- Prime Minister Petr Fiala emphasized that the new production line is vital for the Czech Republic's car sector, which accounts for about 10% of the country’s GDP, and noted it will generate 245 additional jobs.
- Toyota has not disclosed the production start date or model details, but the plant will become Toyota’s first in Europe to produce battery electric vehicles.
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Toyota to Produce First Fully-Electric Car in Europe at Czech Plant
Sept 3 (Reuters) – Toyota 7203.T said on Wednesday it would build an electric vehicle model at its factory in the Czech Republic, its first fully-electric model to be made in Europe, and would also invest in a new battery assembly facility at the plant.
·Japan
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Coverage Details
Total News Sources38
Leaning Left3Leaning Right2Center7Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 25%
C 58%
R 17%
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