Toyota Invests US$280m to Upgrade Vietnam Plant, Add Hybrid Production
Toyota will invest more than US$280 million over the next few years to upgrade and expand its production hub in Phú Thọ province, Vietnam. Toyota Motor Vietnam received approval to build new facilities in Phúc Yên, adding a new paintshop and stamping plant and more automated equipment. Construction is scheduled to start in May 2027 and finish by 2029, alongside plans to introduce hybrid-electric models locally.