Toyota mulls investment of €265 Million for plants in U.K. and Turkey

Toyota Motor Corp. bared plans to invest €265 million (US$346.4 million) for the production of models of a medium-sized family car at its plants in the U.K. and Turkey. The move is in line with production strategy changes which the Japanese auto maker predicts will boost sales in Europe. The company wants to make its assembly plant at Burnaston, England, the sole European center for making Toyota’s gasoline, diesel and hybrid versions of its next hatchback. Some 1,500 jobs will be created if this plan pushes through. As for the plant in Sakarya, Turkey, Toyota plans to make it the production center for the gasoline, diesel and hybrid models of the new car’s sedan version. An additional 400 people will be hired when the plan is carried out. Both the U.K. and Turkey plants now assemble Toyota Auris. The plant in Turkey also manufactures Toyota Verso. The new investments are geared towards improving cost efficiency by rationalizing production. (November 24, 2011)