Toyota to set up vehicle manufacturing plant in Kenya
Japanese motor vehicle manufacturer Toyota Tsusho Corporation is set to establish a vehicle manufacturing plant in the country.
This comes after Kenya and Toyota signed a framework agreement for collaboration in vehicle manufacturing and renewable energy development on Wednesday, February 7, 2024.
In a statement, the State House Kenya announced that the company has committed an initial investment of Ksh800 million in the Kenya Thika vehicle manufacturers.
President William Ruto, who is on a state visit to Japan, said the move will bolster Kenya’s industrial sector, strengthen Kenya-Japan ties and expand opportunities for Kenyans.
“We must have a balance between the number of imported and newly manufactured vehicles,” Ruto said.
Kenya also signed a Ksh15 billion deal with Japan for Meru Wind Farm Energy, Ksh8 billion for Isiolo Solar Energy and Ksh75 billion for Menengai Geothermal Plant.
"It also entailed the promotion of electrified Vehicles including hydrogen electric vehicles and hybrid vehicles," State House added.