HÀ NỘI — Toyota Motor Vietnam (TMV) has proposed expanding production in Phú Thọ Province, focusing on increasing electrified models, including hybrids.

According to Phú Thọ's official online portal, during a meeting with the provincial People’s Committee, TMV CEO Nakano Keita shared that the company has produced more than 700,000 vehicles of various types over 30 years, including 17,000 vehicles in just the first eight months of this year.

Since launching hybrid vehicles five years ago, Toyota has sold more than 17,000 hybrid vehicles in Việt Nam. Hybrid sales reached nearly 3,500, doubling last year’s figures in the first half of 2025.

The Phase 1 plan from 2026 to 2028 includes building a new 35,000-square-metre factory to increase production capacity by 15,000 vehicles per year, with a total investment of around US$360 million. The facility is expected to be completed and operational by the fourth quarter of 2028.

Phase 2, from 2028 to 2029, will focus on additional assembly lines and vehicle testing areas covering 40,000 square metres.

TMV requested that Phú Thọ Province promptly approve the investment registration certificate for the expansion project to ensure timely implementation. They also sought an extension of land-use rights for the factory from 2035 to 2045 to secure stable, long-term operations, and assistance with building permits, environmental compliance, and fire safety requirements.

Chairman of the provincial People’s Committee Trần Duy Đông praised Toyota Việt Nam for expanding its projects, including the hybrid vehicle line, in line with government policy.

Đông agreed with Toyota’s plan and assigned the Department of Finance to guide the company in completing investment procedures for timely project approval.

Additionally, the Department of Agriculture and Environment will advise on land procedures, environmental regulations, and the land-use rights extension for the company’s project. — VNS