Japanese automaker Toyota Motor (TMC) has signed a memorandum of understanding (MoU) with the government of the Republic of Kazakhstan to produce Fortuner sport utility vehicle (SUV) in the country.
The production of the SUV is scheduled to start in the spring of 2014 through local firm Saryarka AvtoProm (SAP), with a production capacity of about 3,000 units per year.
Kazakh Deputy Prime Minister and Minister of Industry and New Technologies Asset Issekeshev said the project marks an important step towards the development of the automotive industry in Kazakhstan.
"I believe it will lead the way for the engineering industry in Kazakhstan," Issekeshev said.
Toyota's Thailand subsidiary Toyota Tsusho will be responsible for the supply of most of the parts for production, while SAP will assembleToyota-brand cars on-site and outsource sales to Toyota Motor Kazakhstan.
TMC senior managing officer Didier Leroy Leroy said that the Kazakhstan has the potential for economic growth and a strong automobile market.
"By starting production locally, we can actively contribute to the acceleration of motorization and industrialization of the country and I am convinced that Toyota will gain a new dimension in the market in order to attract and satisfy more customers," Leroy said.
The Japanese automaker has decided to stop constructing new manufacturing plants globally, apart from facilities that have already been scheduled, for three years from 2013.
