Toyota to invest in UK
Japanese automaker Toyota is to invest £240m in upgrading its Burnaston plant in Derbyshire to its Toyota New Global Architecture (TNGA) platform.
The factory which employs 2,500 people and produces Toyota’s Auris and Avensis models made 180,000 vehicles last year, most of which were exported to Europe and other markets.
The government is providing up to £21.3m in funding in training, research and development, and further enhancements to the Burnaston plant’s environmental performance.
Johan van Zyl, president and CEO of Toyota Motor Europe said, ‘Our investment demonstrates that, as a company, we are doing all we can to raise the competitiveness of our Burnaston plant in Derbyshire. Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success.’
Toyotas global programme aims to build the majority of their vehicles using the TNGA platform by 2020. The fourth generation Prius and new C-HR Crossover models are already being built at TNGA plants elsewhere in Europe.
Earlier this year Toyota announced it was planning to spend $10bn (£8.2bn) in the US over the next five years, also saying they expected to report net profits of 1.7 trillion yen (£12.1bn) for the 2016-17 financial year, 0.4 trillion yen lower than the previous year.