European car makers express interest in Myanmar
The Czech Republic has announced interest to assemble Skoda cars in Myanmar, U Thaung Tun, Union minister for Investment and Foreign Economic Relations, said last week. Hungary and Czech Republic made the offers during State Counsellor Daw Aung San Suu Kyi’s Europe visit last month.
However, more information on assembling Skoda vehicles in Myanmar was not provided. Hungary has offered to manufacture electric cars in Myanmar and the Ministry of Industry will cooperate. It will be an assembly plant. But first, three cars will be imported on a trial run basis to gauge their performance.
On May 30, Toyota Motor Corporation announced that it will establish Toyota Myanmar Co Ltd in Thilawa Special Economic Zone as its first vehicle production company in Myanmar, where it will locally produce the Hilux from February 2021. Investment is expected to amount to US$52.6 million. It intends to assemble around 2500 Hilux vehicles using the semi knock-down method and will hire around 130 employees.
Source: Myanmar Times
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