Toyota plans to begin making hybrid electric vehicles in Bangladesh by 2029, with work on a manufacturing facility in an economic zone set to start in 2027, the government said on Tuesday.
A high-level Toyota Tsusho Corporation delegation led by Vice-Chairman of the Board Ichiro Kashitani disclosed the plan during a meeting with Prime Minister Tarique Rahman at the Prime Minister’s Office.
The proposed plant will be developed under Toyota Bangladesh’s “With Bangladesh, For Bangladesh” vision and is expected to create jobs, transfer technology and develop skilled workers.
Toyota also plans to expand its distribution network to all divisions and discussed broader investment and long-term business plans in Bangladesh.
The delegation expressed interest in technical and vocational training for young people.
The prime minister welcomed the investment plan and highlighted opportunities in waste-to-energy and renewable energy.
Commerce Minister Khandakar Abdul Muktadir, Prime Minister’s Adviser on Finance and Planning Rashed Al Mahmud Titumir, State Minister for Foreign Affairs Humayun Kabir, Prime Minister’s Adviser on Posts, Telecommunications, Information Technology, Science and Technology Rehan Asif Asad and Special Assistant on Foreign Employment for the Asia-Pacific Region Md Shakirul Islam Khan attended the meeting.
Toyota Tsusho Mobility Division CEO Shigeru Harada and Toyota Bangladesh President and Managing Director Premmit Singh were also present.
