KUALA LUMPUR (May 25): UMW Holdings Bhd's 51%-owned UMW Toyota Motor Sdn Bhd is spending roughly RM2 billion to build a new passenger car manufacturing plant in Bukit Raja, Selangor. The new plant, which is 670,000 sq m in size, will also produce energy-efficient vehicles.
UMW Toyota Motor deputy chairman Akio Takayama said construction shall begin in the second half of this year. Once it is completed in early 2019, it will have a production capacity of 50,000 units a year.
The idea is to streamline the current production plant, which is just 10 km away from the upcoming UMW Toyota plant, to have a combined production volume of 90,000 to 100,000 a year, he said.
UMW Toyota Motor president Datuk Ismet Suki meanwhile said all the RM2 billion investment figure will be derived internally over the next three years, as in from the company itself and not from its shareholders.
Toyota Motor Corp owns the remaining 49% of UMW Toyota Motor.
At the midday break, UMW Holdings fell 4.81% or 26 sen to RM5.14 with 1.66 million shares traded.