Toyota Motors, a Japanese automotive manufacturer, has sealed plans to establish a vehicle assembling plant in Ghana and Ivory Coast. The Memorandum of Understanding (MOU) was signed between Toyota Tsusho’s Chief Executive, Ichiro Kashitani and the government of Ghana and Ivory Coast representatives, during the Tokyo International Conference on African Development (TICAD 7).
According to the MOU, Toyota motor will begin assembling vehicles in Ghana by August 2020, while the construction of a vehicle assembling plant will begin in Ivory Coast.
Toyota’s CEO, Ichiro Kashitani hailed the partnership. He stated that the project will have its first car made in Ghana by 2020. Kashitani also describes the establishment of Toyota and Suzuki assembly plant in Ghana as a business relationship that will last over time.
Ghanaian President, Nana Akufo Addo, described the MoU with Toyota Tsusho as a step in line with Ghana’s vision to be the automotive hub for West Africa and the international market. The president also assured Toyota of its support to ensure the success of the partnership.
Toyota’s Chief of Operation Africa Division, Imai Toshmitu confirmed that the partnership was birthed because of Ghana’s favourable economic climate. Toshimu stated that the company will produce Suzuki and Toyota Hilux pickup in the plant. The company will introduce small passenger cars, with two Suzuki brands to be fully assembled in Ghana.
The planned vehicle assembly plants in Ghana and Ivory Coast will enable automobile manufacturers to assemble Toyota and Suzuki products for the West African market.