The two factories are expected to have a production capacity of 100,000 cars per year each. Egypt, which already has a well-established automotive ecosystem, is one of the favorite candidates to host one of them.
Japanese automaker Toyota Tsusho plans to set up two new factories in Africa, the group’s senior executive adviser Jun Karube announced on May 2.
“Toyota will establish two factories on the continent, each with a production capacity of 100,000 cars per year, in addition to its already existing factories in several African countries,” said Jun Karube, during a meeting held in Cairo with the President of the Egyptian General Authority for Investment and Free Zones (GAFI), Hossam Heiba.
Jun Karube, who was previously the chairman of the board of Toyota Tsusho Group, also clarified that Egypt is one of the favorites for the installation of one of the factories, indicating that this South African country North is already home to several automotive OEMs and offers a skilled workforce and a conducive investment climate.
The announcement by the Toyota group of the establishment of two factories in Africa comes on the sidelines of the tour that the Japanese Prime Minister, Fumio Kishida, is making on the continent. As part of his African tour, the Japanese leader has already visited Egypt and Ghana. He is also expected in Kenya and Mozambique.
Toyota already has vehicle assembly plants in South Africa, Kenya and Ghana.