Toyota’s "Fortuner" SUVs will be assembled in Egypt, with a planned annual output of approximately 3,000 vehicles, beginning early 2012, according to a statement.
Toyota Motor Corporation (TMC), Toyota Tsusho Corporation (Toyota Tsusho) and Toyota Egypt S.A.E. (Toyota Egypt) — TMC’s independent vehicle distributor in Egypt — will establish a company to oversee the assembly of Toyota-brand vehicles locally, using parts mostly made in Thailand, a statement on MarketWatch read.
TMC, Toyota Tsusho and Toyota Egypt plan to conclude a joint-venture agreement by mid-November, and the company will be formally established in mid-December.
The company will also perform quality control, supply and demand management, and logistics management.
TMC started exporting to and selling vehicles in Egypt in 1979 though Toyota Egypt; it sold approximately 15,000 vehicles in 2009.