Toyota to set up vehicle manufacturing plant in Bangladesh

Toyota Tsusho Corporation is set to establish a vehicle manufacturing plant in Bangladesh, with production of hybrid electric vehicles (HEVs) expected to begin in 2029.

Toyota Tsusho Vice Chairman Ichiro Kashitani led a delegation that met Prime Minister Tarique Rahman at the Prime Minister’s Office at the Secretariat in Dhaka on Tuesday.

During the meeting, the Toyota Tsusho delegation briefed the prime minister on its plan to establish a Toyota vehicle manufacturing plant in Bangladesh. The initiative is expected to create jobs, promote industrialisation, facilitate technology transfer and help develop skilled human resources in the country.

The delegation also discussed expanding Toyota’s operations in Bangladesh, potential investments and its long-term business plans.

The prime minister welcomed Toyota’s interest in expanding its investment and operations in Bangladesh, saying the government was working to ensure a stable, competitive and investment-friendly environment for both local and foreign investors.

He said the government was committed to providing necessary policy support, infrastructure and other facilities to foreign investors.

The prime minister also highlighted the potential of waste-to-energy and renewable energy sectors in Bangladesh, saying the government would provide necessary cooperation and support if Toyota Tsusho is interested in investing in these sectors.

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The Toyota side said plans were under way to expand Toyota Bangladesh’s distribution network to all divisional cities, making its services and operations more accessible across the country.

The company also said work would begin in 2027 to establish a hybrid electric vehicle manufacturing industry at an economic zone in Bangladesh under Toyota Bangladesh’s initiative, with the plant expected to go into full-scale production by 2029.

Toyota also expressed interest in contributing to human resource development in Bangladesh, particularly by creating technical and vocational training opportunities for young people, enhancing skills and developing a workforce suited to future industries.

Commerce Minister Khandakar Abdul Muktadir, Prime Minister’s Adviser on Economic and Planning Affairs Dr Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Humaiun Kobir, Prime Minister’s Adviser on Science and Technology Rehan Asif Asad and Prime Minister’s Special Assistant for Foreign Employment in the Asia-Pacific region Md Shakirul Islam Khan, among others, attended the meeting.

Toyota Tsusho Mobility Division CEO Shigeru Harada, Toyota Bangladesh Ltd President Premmit Singh and other senior officials of the company were also present.