Toyota Motor Corp. said Monday it established Toyota Motor Asia Pacific Co., Ltd. in Thailand to support Toyota's Asian production outside of Japan.
TMAP Thailand is aimed at strengthening Toyota's Asian production and supply network by improving the speed and efficiency of individual production companies. The new company will gradually assume TMC’s role of providing from Japan support related to production, purchasing and logistics.
''We are integrating our marketing and manufacturing teams,'' Akira Okabe, Toyota Motor's senior managing director, said at a news conference.
In 2005, Toyota produced 1.03 million vehicles in the region, up 43 percent from the previous year.
The new Thai unit is expected to improve speed and cut costs at production facilities across Asia. Toyota said it is capitalized at 10 million baht ($263,000) and plans to employ about 800 people by early 2007.