Toyota plants in Thailand and Russia on hold for now
The moves are part of Toyota's belt-tightening strategy.
Toyota's participation in Formula One is right on track, and the Lexus LF-A is still a go, but that doesn't mean that the Japanese giant won't be doing any cost cutting this year.
Toyota's plans of building a US$ 155 million diesel engine plant in Thailand have currently been postponed. The proposed factory was intended to produce engines for Toyota pickups and would have been built by 2010.
Toyota has also scrapped its planned expansion of its Camry plant in St. Petersburg, Russia. The original factory was expected to produce 20,000 cars in its first year of operation. But since this figure never materialized, Toyota saw no need for expansion.
Credits: JRC
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