Toyota Australia will begin manufacturing a new fuel efficient and more environmentally sustainable engine for its Camry and Hybrid Camry sedans at its long established engine plant in Altona, Melbourne.
More than 100,000 engines will be produced each year at Altona, commencing in the later half of 2012. Approximately $300 million of project expenditure will be injected into the Australian economy.
Securing the next generation engine provides a foundation for on-going vehicle production at the Altona plant. It also provides Toyota Australia with significant opportunities to export the new engine to other Toyota manufacturing plants in ASEAN countries that produce Camry and Hybrid Camry.
The new leading edge and more environmentally sustainable engine will deliver reduced carbon emissions and improved fuel consumption.
Toyota Australia President and CEO, Mr Max Yasuda, welcomed the decision and praised the efforts of Toyota Australia's employees, unions and suppliers in ensuring the project proceeded.
"Securing the investment to produce the next generation engine is a huge vote of confidence for our local manufacturing plant and our employees, who have worked tirelessly to improve operational performance to demonstrate our ability to compete with Asia Pacific counterparts.
"Toyota operations around the world are constantly vying for new investment to ensure local manufacturing operations can participate in the global car making industry."
Toyota Australia acknowledged the strong desire of both the Federal and State Governments to see new, more environmentally friendly technologies introduced to Australia.
"The support provided by the Federal Government's Green Car Innovation Fund and the Victorian Government was a major factor in this project proceeding. A partnership between local car makers, the government and suppliers is fundamental for ensuring we evolve our industry to deal with the challenges of a carbon constrained world."
Toyota Australia's engine production has been the cornerstone of its automotive manufacturing since 1978 and was Toyota's first engine manufacturing plant built outside Japan. The facility currently produces the AZ 4 cylinder engine for the current generation Camry, and is operated by 320 employees.
Toyota Australia is Australia's largest car manufacturer and market leader. This year, the company celebrated the launch of Australia's first locally built hybrid, the Hybrid Camry. In 2010 the company exported 63,345 vehicles to more than 20 countries, mainly to the Middle East.
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