Toyota Tsusho is preparing to establish its first vehicle manufacturing facility in Bangladesh, according to a press release issued after a meeting between a high-level delegation led by Vice-Chairman Ichiro Kashitani and Prime Minister Tarique Rahman at the secretariat on October 6th.

Under the development philosophy 'With Bangladesh, For Bangladesh', Toyota plans to begin establishing a Hybrid Electric Vehicle manufacturing plant within one of the country's economic zones in 2027, with full-scale commercial production targeted for 2029.

Briefing the prime minister on the long-term project, Toyota representatives said the factory could contribute to local job creation, support industrialisation, and provide technical and vocational training for young workers for automotive manufacturing.

Welcoming the project, Prime Minister Rahman assured the delegation of policy support, infrastructure facilities and investment incentives. He said the government remains focused on maintaining a stable, competitive and investor-friendly environment, while also encouraging Toyota to explore additional opportunities in renewable energy and waste-to-energy projects.

The high-level meeting included key cabinet members and advisers, along with senior executives from Toyota Tsusho Corporation, including Shigeru Harada, CEO of the Mobility Division, and Premhit Singh, President of Toyota Bangladesh.