TOYOTA OPENS NEW OPERATIONS IN TAIWAN

Toyota City―Opening ceremonies were held this morning to mark the official start-up of business for TOYOTA MOTOR CORPORATION's Taiwan production affiliates, Kuozui Motors, Ltd. and Fung Yong Co., Ltd., at the Kuozui Motors assembly plant in Jong lih City, Taiwan.

The two companies have begun production of the ZACE, a 1-ton-class commercial vehicle unveiled to the press yesterday at a hotel in Taipei. Toyota also plans to add production of the Corona, a compact passenger car, next spring. The vehicles are assembled by Kuozui Motors, which has expanded its production facilities to accommodate the new business, and body and stamped parts production for the operation is carried out by the newly established Fung Yong.

The new business will allow Toyota to provide Taiwanese customers with prompt delivery of its high-quality vehicles and at the same time contribute to the local economy. Toyota also hopes that Taiwan's automotive industry will benefit from the operation through both the introduction of its unique production management style and the growth of the domestic parts industry.

Today's opening ceremonies were hosted by Chairman Yann-Huei Su of Kuozui Motors and Chairman Yuzo Kumamoto of Fung Yong. Guests included members from Taiwan's government, finance and industry circles, as well as President Shoichiro Toyoda of Toyota and others involved with the project.