Toyota Motor Corp. will be the latest carmaker that plans to assemble cars locally in Myanmar.
The company broke ground today on a $53 million factory near Yangon, The Nikkei reports. The facility expects to begin making Hilux compact pickup trucks in February 2021.
Myanmar opened its auto market in 2011 as it transitioned from military leadership, triggering a flood of used vehicles from Japan. Since then the country has banned the right-hand-drive models used in Japan and added import fees.
The new policies have prompted Ford, Hyundai/Kia, Nissan and Suzuki—now joined by Toyota—to set up local assembly operations in the fledgling market. The companies use their plants to assemble vehicles from imported kits.
Last year new-car sales in Myanmar more than doubled to 17,500 vehicles, a microscopic volume compared to neighboring markets.
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