Toyota Vietnam desires to boost electrified vehicle lineup

The proposal was presented during a working session between Toyota Motor Vietnam President Nakano Keita and chairman of the provincial People’s Committee Tran Duy Dong on Wednesday.

Since its launch of hybrid vehicles five years ago, Toyota has sold over 17,000 hybrid cars in Vietnam.

Sales in the first half of 2025 reached nearly 3,500 units, double the figure from the same period in 2024.

Under its plan, the company will execute the expansion project in two phases.

During the first phase from 2026 to 2028, the firm plans to build a new 35,000-square-meter production facility, raising its capacity to 15,000 vehicles annually.

The total investment for this phase is estimated at US$360 million, with operations expected to begin in the fourth quarter of 2028.

The second phase between 2028 and 2029 will include additional investments in assembly and vehicle testing lines, covering an area of 40,000 square meters.

To facilitate the expansion, Toyota Vietnam asked the province for prompt approval of its investment registration certificate and the extension of its current land use rights from 2035 to 2045, ensuring long-term production stability.

The Japanese automaker also sought assistance in completing procedures related to construction permits, environmental impact assessments, and fire safety compliance.

The provincial leader highly valued Toyota’s expansion plans, especially its increased focus on hybrid vehicles, which aligns with government policy on promoting environmentally friendly transport solutions.

He instructed the provincial Department of Finance to guide the firm through the investment application process to expedite project approval.

In addition, the provincial Department of Agriculture and Environment was assigned to support land and environmental procedures, including recommendations for land use rights extensions.

Chairman Dong encouraged Toyota to further increase the localization rate of its vehicles and consider expanding the range of hybrid models assembled in Vietnam.

Over its 30 years of operation in Vietnam, Toyota has manufactured more than 700,000 vehicles.

Between January and August, the company produced 17,000 units.