Toyota To Begin Vehicle Manufacturing In Argentina

Tokyo―TOYOTA MOTOR CORPORATION announced today that it has reached an agreement with Argentine partner Decaroli S.A to establish a joint company to manufacture and sell Toyota vehicles in the Argentine Republic.

Capitalized at US$100 million (TMC 50%, Decaroli S.A. 50%), Toyota Argentina S.A. will begin manufacturing Hilux 4x2 and 4x4 models at. the end of 1996. Full-scale production is targeted at 20,000 units per year and approximately 800 people are expected to be employed. Toyota Argentina S.A. will apply to the Argentine government for permission to carry out the project immediately upon establishment.