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Toyota Tsusho Acquires License for Vehicle Assembly Business in Ghana - A first for a Japanese company -

2020.11.02

Toyota Tsusho Corporation (“Toyota Tsusho”) announces today that it established TOYOTA TSUSHO MANUFACTURING GHANA CO. LIMITED (“TTMG”), a vehicle production company, and acquired a license for a vehicle assembly business, a first for a Japanese company in Ghana.


The planned production capacity of the new plant is 1,300 units annually, and the plant is slated to conduct SKD* production of the Toyota Hilux pickup truck. The new plant will be constructed in Tema (30 km from the capital city of Accra) at an investment cost of approximately 7 million US dollars, and there are plans to hire approximately 50 new employees. Preparations are underway to commence operations in mid-2021.


Toyota Tsusho assumed all business and operations in Africa from Toyota Motor Corporation in January 2019 and has been reinforcing initiatives in Africa. With the establishment of TTMG, Toyota Tsusho Group will have vehicle production sites in five African countries following Kenya, Egypt, Nigeria, and Rwanda. In addition to engaging in the automobile sales business, Toyota Tsusho will perform local production tailored to market needs, contributing to the development of the automobile industry in Africa.


This project is being implemented pursuant to the Memorandum of Understanding regarding a partnership for the development of the automotive industry executed by Toyota Tsusho and the government of Ghana at the Seventh Tokyo International Conference on African Development (TICAD7), which was held in Yokohama in August 2019.


■  Overview of TTMG

Company Name: TOYOTA TSUSHO MANUFACTURING GHANA CO. LIMITED


Location: Tema, Republic of Ghana


Capital: USD 3 million


Shareholder: Toyota Tsusho 100%


Representative: President Akira Yamada


Incorporation: June 2020


Business Description: Automobile assembly and production


Business License: Acquired October 2020


Production Vehicles: Toyota Hilux


Production Volume: 1,300 units/year


Start of Production: Mid-2021 (planned)


* Semi knock-down. A simple method of vehicle assembly that requires only the tightening of bolts and the like, unlike complete knock-down (CKD) production.