Japanese multinational car manufacturer Toyota Motor Corporation is investing about 4 crore dollars to set up two 3S centers in Dhaka and Chattogram. The company plans to start construction work on the centers in November. This investment marks the first time the Japanese car maker will run direct operations in Bangladesh.
Nahiyan Rahman Rochi, a member of Invest Bangladesh, said the direct foreign investment of about 4 crore dollars or Tk500 crore was confirmed this month. Toyota will launch two 3S centers in the country and construction work will start in November. Land for the two centers has already been chosen.
A 3S center provides vehicle sales, repair services, and spare parts supply under one roof. Customers can get all these services from a single location.
Toyota has operated in Bangladesh through local dealers and distributors until now. The opening of the two new centers marks the first time the company will operate directly in the country.
Invest Bangladesh communicated and discussed with Toyota for the past five to six months to bring the investment to the country. Toyota Tsuso Corporation also plans to set up a factory to produce hybrid electric vehicles in Bangladesh. The project is scheduled to start in 2027 and full vehicle production is expected to begin by 2029.
The Prime Minister’s Office said Toyota Tsuso Corporation will start building the hybrid electric vehicle production factory in due time following the development philosophy of For Bangladesh, With Bangladesh. This information came after a high-level delegation led by Toyota Tsuso Corporation Vice Chairman Ichiro Kashitani met Prime Minister Tarique Rahman at the Secretariat on 6 October.
The Invest Bangladesh authority will continue to provide necessary policy support to start Toyota vehicle production activities in the country.