Toyota announced the production of a new electric vehicle and the expansion of the Czech Motor Manufacturer in Kolin on Wednesday. File Photo by John Angelillo/UPI | License Photo
Toyota announced on Wednesday that it plans to expand its manufacturing plant in the Czech Republic, as it will become the first in Europe to produce a new battery electric vehicle.
The Toyota Motor Manufacturing Czech Republic plan in Kolin will be expanded from approximately 1.63 million square feet to roughly 1.86 million square feet to support the production of the car and its battery.
“I am very glad that the Czech Republic managed to secure such a significant foreign investor as Toyota,” said Prime Minister Petr Fiala. “The automotive industry makes up around 10% of our GDP, and if we want to keep it, we must systematically modernise it. It is exactly such projects that are crucial for the future of the Czech automotive industry.”
This decision is part of Toyota’s strategy to achieve its objective of carbon neutral operations in Europe by 2024.
“We fully appreciate this investment, the historical support and recognition of the Czech Republic, and our contribution to Czech society will continue as a ‘Best in Town’ company,” Yoshihiro Naka, President and CEO of Toyota Motor Europe. “This advanced technology project will enhance our presence in the European market and contribute alongside our other solutions towards more efficient transportation.”
The Czech government has invested up to $74 million to support the building of the facility.
