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Toyota Vietnam to invest US$ 283 million in Phu Tho factory modernisation
Autobikes.vn, 31 August '26Headlines 31 August '26
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Toyota Vietnam is set to invest more than US$ 283 million in modernising its factory in Phu Tho Province following the issuance of an amended investment policy decision and its 12th amended Investment Registration Certificate on August 28th, 2026.
The People's Committee of Phu Tho Province held a ceremony to present the documents to Toyota Motor Vietnam for its project covering the assembly and manufacture of various types of automobiles and automotive parts, warranty and repair services, and the import of completely built-up (CBU) vehicles for the Vietnamese market.
Under the amended investment terms, the project has a total registered investment of more than US$ 283 million and covers a land area of more than 28.6 hectares, with production and assembly capacity of approximately 52,000 vehicles per year. Construction under the revised project is scheduled to begin in May 2027.
The revised project includes the assembly and manufacture of automobiles and automotive parts for electrified vehicle lines, particularly hybrid electric vehicles (HEVs). Toyota will also develop new paint and stamping workshops for the production of vehicle bodies and other motor vehicles.
The two facilities will incorporate production technologies and higher levels of automation to increase production capacity, maintain product quality to international standards and improve energy efficiency. Both workshops are expected to become operational in 2029 and will support the introduction of new completely knocked-down (CKD) models by Toyota Vietnam.
The investment forms part of Toyota Vietnam's plan to modernise its production operations and expand its manufacturing capabilities as the automotive industry shifts towards lower-emission mobility. The company has been upgrading its facilities since early 2026. In March, Toyota began construction of a new office complex at its headquarters, alongside plans for a training centre and new production-line areas.
The Phu Tho Provincial People's Committee said the investment procedures for Toyota were completed within one week under the province's "Green Channel" mechanism, which reduces the time required to complete administrative procedures by 50 per cent. Following the ceremony, the provincial government said its departments and agencies would continue supporting Toyota during the implementation of the project.
Chairman of the Phu Tho Provincial People's Committee Tran Duy Dong said the project represents another stage in Toyota Vietnam's more than three decades of investment, manufacturing and business operations in the province. He asked Toyota to focus on technology innovation, automation, energy-efficient production, electrified vehicle manufacturing and environmentally friendly technologies.
He also called on the company to expand its network of Vietnamese component suppliers to increase localisation and develop its workforce, including through training Vietnamese employees for positions in production-line operations and company management.
The provincial government also encouraged Toyota and its component suppliers to continue researching and expanding production and business activities in Vietnam, particularly in Phu Tho, and to introduce Japanese companies to investment opportunities in the province.
Toyota Vietnam President Osamu Hirata said the investment is expected to affect areas beyond Toyota's own operations. He said maintaining the supplier network and increasing localisation could support Vietnam's supporting industries, create skilled employment opportunities, facilitate the transfer of advanced manufacturing technologies and contribute to local tax revenues. The investment is also linked to Phu Tho's objective of developing an automotive industrial centre in northern Vietnam.
Toyota's local manufacturing operations date back more than three decades to its first investment licence, issued on September 5th, 1995. Since then, the company has expanded its production and business activities and contributed to the development of Vietnam's domestic automotive industry.
Toyota Vietnam has produced more than 700,000 vehicles at its factory, while cumulative sales have exceeded one million vehicles. Its after-sales network has recorded more than 20 million service visits, alongside the company's contributions to social welfare and tax revenues.
The latest investment approval will increase domestic production capacity and prepare the factory for electrified vehicle manufacturing, new CKD models, greater localisation, workforce development, and increased automation and energy efficiency.
The People's Committee of Phu Tho Province held a ceremony to present the documents to Toyota Motor Vietnam for its project covering the assembly and manufacture of various types of automobiles and automotive parts, warranty and repair services, and the import of completely built-up (CBU) vehicles for the Vietnamese market.
Under the amended investment terms, the project has a total registered investment of more than US$ 283 million and covers a land area of more than 28.6 hectares, with production and assembly capacity of approximately 52,000 vehicles per year. Construction under the revised project is scheduled to begin in May 2027.
The revised project includes the assembly and manufacture of automobiles and automotive parts for electrified vehicle lines, particularly hybrid electric vehicles (HEVs). Toyota will also develop new paint and stamping workshops for the production of vehicle bodies and other motor vehicles.
The two facilities will incorporate production technologies and higher levels of automation to increase production capacity, maintain product quality to international standards and improve energy efficiency. Both workshops are expected to become operational in 2029 and will support the introduction of new completely knocked-down (CKD) models by Toyota Vietnam.
The investment forms part of Toyota Vietnam's plan to modernise its production operations and expand its manufacturing capabilities as the automotive industry shifts towards lower-emission mobility. The company has been upgrading its facilities since early 2026. In March, Toyota began construction of a new office complex at its headquarters, alongside plans for a training centre and new production-line areas.
The Phu Tho Provincial People's Committee said the investment procedures for Toyota were completed within one week under the province's "Green Channel" mechanism, which reduces the time required to complete administrative procedures by 50 per cent. Following the ceremony, the provincial government said its departments and agencies would continue supporting Toyota during the implementation of the project.
Chairman of the Phu Tho Provincial People's Committee Tran Duy Dong said the project represents another stage in Toyota Vietnam's more than three decades of investment, manufacturing and business operations in the province. He asked Toyota to focus on technology innovation, automation, energy-efficient production, electrified vehicle manufacturing and environmentally friendly technologies.
He also called on the company to expand its network of Vietnamese component suppliers to increase localisation and develop its workforce, including through training Vietnamese employees for positions in production-line operations and company management.
The provincial government also encouraged Toyota and its component suppliers to continue researching and expanding production and business activities in Vietnam, particularly in Phu Tho, and to introduce Japanese companies to investment opportunities in the province.
Toyota Vietnam President Osamu Hirata said the investment is expected to affect areas beyond Toyota's own operations. He said maintaining the supplier network and increasing localisation could support Vietnam's supporting industries, create skilled employment opportunities, facilitate the transfer of advanced manufacturing technologies and contribute to local tax revenues. The investment is also linked to Phu Tho's objective of developing an automotive industrial centre in northern Vietnam.
Toyota's local manufacturing operations date back more than three decades to its first investment licence, issued on September 5th, 1995. Since then, the company has expanded its production and business activities and contributed to the development of Vietnam's domestic automotive industry.
Toyota Vietnam has produced more than 700,000 vehicles at its factory, while cumulative sales have exceeded one million vehicles. Its after-sales network has recorded more than 20 million service visits, alongside the company's contributions to social welfare and tax revenues.
The latest investment approval will increase domestic production capacity and prepare the factory for electrified vehicle manufacturing, new CKD models, greater localisation, workforce development, and increased automation and energy efficiency.