Toyota expands Chinese parts purchases in Thailand to cut costs

Toyota Motor plans to expand its parts procurement from Chinese companies in Thailand to reduce the cost of an electric vehicle slated for launch in 2028. This move is expected to reduce costs by approximately 30%. Toyota is encouraging its Thai supplier, Summit Group, to partner with a Chinese company to build a new factory in Thailand. This marks the first time a major Japanese automaker has introduced a Chinese parts manufacturer to the Southeast Asian market.