BANGKOK (AP) — Toyota Motor Corp. has begun assembling autos in Myanmar after a more than yearlong delay following a military takeover in February 2021.
The factory in the Thilawa Special Economic Zone, outside the country’s biggest city, Yangon, is owned by Toyota and its trading arm, Toyota Tsusho.
The factory assembles Hilux pickup trucks from semi-knockdown kits and was originally due to turn out 2,500 vehicles a year, beginning in February 2021. Original plans called for an investment of $52.6 million.
In a statement, Toyota Myanmar said it began selling the Hilux double cab trucks in Myanmar as of Tuesday and has begun taking orders for the vehicle. It was unclear exactly when the factory began production.
Many foreign companies have withdrawn from Myanmar following the military’s seizure of power from the elected government of Aung San Suu Kyi.
Toyota is among more than 100 Japanese and other foreign companies with investments in Thilawa.
Before you consider Toyota Motor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Toyota Motor wasn't on the list.
While Toyota Motor currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
