Bloomberg News

Toyota Turkey to Invest 150 Million Euros in New Sedan, CEO Says

November 24, 2011

Nov. 24 (Bloomberg) -- Toyota Motor Corp. will invest 150 million euros to produce a new C-segment sedan at its Turkish factory, improving output and capacity usage at the unit, Orhan Ozer, chief executive of the Turkish plant, said.

Toyota Turkey’s capacity utilization dropped to about 60 percent because of the debt crisis in Europe because it exports more than 90 percent of its output to European countries, Ozer said in an interview with Bloomberg HT television today. Toyota’s Turkish plant, with an annual capacity of 170,000 units, also aims to enter other markets with the new model, he said.

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net


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