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Toyota becomes the sole owner of the plant in Kolín

The company is preparing production of the hybrid Toyota Yaris in the Czech Republic

Toyota becomes the sole owner of the plant in Kolín Source: www.toyotacz.com

As of 1 January 2021, Toyota will become the sole owner of the Kolín car factory that it previously co-owned with the French concern PSA. The plant will bear the new name Toyota Motor Manufacturing Czech Republic and, based on the example of other European plants, will operate under the trade name TMMCZ.

The joint enterprise was established in 2002. Since 2005, it has been manufacturing Toyota Aygo, Peugeot 108 and Citroën C1 compact cars, production of which will continue. At present, the company is investing more than CZK 4 billion in the expansion and modernisation of the plant. Production of the Toyota Yaris, which with its hybrid technology is a new product for the factory, will begin in 2021.

“Today our factory is fully becoming a part of the Toyota Motor Europe group, which is currently well represented on the continent with eight plants, a development centre and several logistics centres. Rising demand for our vehicles and preparations for the production of the new model will lead to the introduction of three-shift production by the end of February 2021,” said Koreatsu Aoki, president of TMMCZ.

Valued at CZK 26 billion, the Kolín factor was the largest investment in the Czech Republic in its time. CzechInvest assisted with its construction and Toyota’s entry into the Czech Republic from the beginning. The agency sought out a suitable location for the plant and administrated the initial investment incentive. Toyota also cooperated closely with CzechInvest on the most recent investment in the start of production of the new hybrid Toyota model in the Czech Republic. Cooperation continues especially in the area of AfterCare services for investors when employing foreign workers and seeking ways to mitigate the Kolín plant’s impact on the environment. More than 3,500 people currently work at TMMZ, which is one of the biggest exporters in the Czech Republic.

More information is available on the TMMCZ website.