Toyota Vietnam accompanies the socio-economic development of the province

As one of the first automobile joint ventures in Vietnam, throughout the past 30 years, Toyota Motor Vietnam (TMV) has always strived for sustainable development, constantly growing in production capacity, sales and services. This is also an important foundation to help TMV increasingly affirm its leading position among FDI enterprises in Vietnam, maintaining its leading position in the domestic automobile industry for many years; contributing significantly to the State budget revenue and accompanying the socio-economic development of the country as well as the province.

Toyota Vietnam Automobile Company, Phuc Thang Ward (Phuc Yen City) affirms its position as a leading enterprise contributing to the State budget and making positive contributions to community activities. Photo: The Hung

Choosing Vinh Phuc as the “settling place”, the presence of FDI enterprises, including the Japanese car company, is of special significance, a solid “launching pad” to help the locality gradually realize its “dream” of becoming one of the industrial centers of the country. Since 1995, the continuous development and growth in production scale, sales, branch system, agents and authorized service stations nationwide of TMV has contributed to creating jobs and stable income for thousands of workers, attracting many talents to work in Vinh Phuc.

Always setting the top goal of actively contributing to the development of the Vietnamese automobile and auto supporting industry, through investment and research activities to produce more types of parts and accessories and efforts to find and expand the domestic supplier network, up to now, TMV is considered one of the automobile manufacturers with a high localization rate in Vietnam. For Toyota Vietnam, promoting localization is not simply increasing the number of suppliers but more importantly, improving product quality, thereby helping to reduce production costs, increase the competitiveness of suppliers, and continue the sustainability of the supply chain. Currently, the list of Toyota Vietnam's suppliers is up to 60 suppliers, including 13 suppliers in Vietnam with a total of nearly 1,000 localized products of all kinds.

2024 marks the 5th consecutive year that Toyota Vietnam continues to cooperate with the Ministry of Industry and Trade to accompany automobile supporting industry enterprises to improve capacity and strengthen the connection between domestic supporting enterprises and automobile assemblers, thereby increasing the localization rate. Notably, in December 2024, at the event "The 2nd Vinh Phuc Innovation and Startup Festival, 2024" (Techfest VinhPhuc 2024) organized by the Provincial People's Committee in coordination with the Ministry of Planning and Investment, the Ministry of Science and Technology, Toyota Vietnam and the Provincial People's Committee signed a Memorandum of Understanding on cooperation to support domestic enterprises in Vinh Phuc in the field of automobile supporting industry to improve business capacity and promote the local economy. This activity will be implemented from 2025 to 2027.

With the goal of constantly improving products to meet customer needs, Toyota Vietnam currently owns a variety of products across all segments and has always received the trust and acceptance of customers. In an effort to accompany "A better society", with a multi-dimensional approach, Toyota Vietnam has continued to develop and expand its product range based on Hybrid technology and provide more Hybrid options, making this model more accessible to users. Thereby, affirming the view that Hybrid is the most suitable choice for the current infrastructure in Vietnam, contributing to meeting the Net Zero goal, reducing emissions during car use and providing economical and safe travel solutions for customers. At the same time, affirming Toyota Vietnam's efforts to become a "green enterprise". In 2024, the Toyota Hybrid product line includes 6 models with 7 Hybrid versions, achieving sales of more than 5,300 vehicles, double that of 2023.

Along with production and business activities, TMV always strives to become a good citizen in the local community through implementing many large-scale activities and programs with profound social significance in many fields, such as: Traffic safety; education and human resource development; environmental protection; culture - society. In 2024, Toyota launched and implemented many practical activities, such as: "Toyota and I learn traffic safety"; "Traffic Safety Initiative" contest; "Dream Car" painting contest... Along with that are a series of volunteer programs and activities for the community, such as: Giving Tet gifts; supporting the construction and giving away houses of gratitude to many policy families in the province... Up to now, the total amount of contributions to Toyota's social activities has reached more than 31 million USD.

By the end of 2024, with the continuous efforts of the staff, employees and workers, Toyota Vietnam has achieved outstanding and remarkable production and business results: Nearly 28 thousand vehicles were manufactured, with a cumulative output of nearly 700 thousand vehicles. Sales reached over 68.1 thousand vehicles (including the luxury car brand Lexus), total cumulative sales reached 984 thousand vehicles of all kinds with more than 1.9 million customers using Toyota Vietnam's services (an increase of 9% compared to 2023), bringing the total number of customers using the company's genuine services to nearly 20 million. Export of components and spare parts achieved a revenue of nearly 65 million USD, cumulative revenue reached nearly 930 million USD. In 2024, Toyota Vietnam contributed more than 884 million USD to the State budget, and to date, the total contribution to the State budget has reached approximately 14 billion USD.

These results are a clear demonstration of Toyota Vietnam’s persistent efforts and its long-term commitment to accompany the development of the automobile industry and supporting industries in Vinh Phuc in particular and the country in general. Thereby, contributing to supporting and improving production capacity, creating many sustainable development opportunities for domestic enterprises.

Viet Son

Source: https://baovinhphuc.com.vn/Multimedia/Images/Id/123578/Toyota-Viet-Nam-dong-hanh-cung-su-phat-trien-KT-XH-cua-tinh