- Toyota Motor Corp (NYSE:TM) has started operations at a new plant in Myanmar after a hiatus following the military coup.
- The Myanmar plant operations were paused, Reuters reported, for over nineteen months due to the coup and the coronavirus pandemic.
- The automaker has started to assemble one to two Hilux trucks per day.
- Toyota’s Myanmar plant was originally planned to be opened in February 2021 when the military took to power, stopping Aung San Suu Kyi’s National League for Democracy from forming a new government.
- Also Read: Toyota Fears Information Leak From Its Telematics Service
- Following the coup, there were increased calls for Japanese companies to pull out investments in the country that could benefit the military.
- “We believe this meets our initial intention to contribute to the industrial development of Myanmar … and to support our employees and their families’ lives,” Toyota said in a statement.
- “Under these circumstances, we are continuously making every effort to comply with all relevant laws and regulations.”
- Also Read: Toyota To Resume bZ4X EV Sales After Recall
- Price Action: TM shares closed higher by 0.15% at $135.06 on Tuesday.
- Photo Via Wikimedia Commons
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