In a major boost to the Australian Auto manufacturing industry Toyota Australia have committed to manufacturing a new engine for its Camry and Hybrid Camry sedans at its Australian engine plant in Altona, Victoria.

More than 100,000 engines will be produced each year commencing in the later half of 2012. Approximately $300 million of project expenditure will be injected into the Australian economy.

According to Toyota 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.

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 went ahead.

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.”

The peak body representing the Australian automotive industry, the Federal Chamber of Automotive Industries (FCAI) welcomed the announcement.
“This is a great boost for local manufacturing and demonstrates car makers are committed to the long term viability of the industry and will continue to deliver significant benefits to the Australian economy,” FCAI Chief Executive Andrew McKellar said.
This follows other recent announcements by local car makers:
• GM Holden has secured an export program to Brazil and has begun the recruitment of additional staff for the re-introduction of a second shift at its manufacturing plant in South Australia.
• Ford has invested $20 million on an environmental and technical upgrade of its Geelong Casting Plant, securing the jobs of 100 people and creating 50 new positions.
“This adds to evidence that local vehicle manufacturing has reached a positive turning point and is now exhibiting signs of renewed growth,” Mr McKellar said.
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.

With Toyota and FCAI Media Releases.