By Quang Minh, Hai Yen
Tue, February 11, 2025 | 12:55 pm GMT+7
Japanese automaker Toyota expects the Vietnamese authorities and parliament to scale back taxes and costs on its automobiles, significantly hybrid fashions, mentioned CEO Keita Nakano.
Tax incentives for cars would make Toyota vehicles extra inexpensive for Vietnamese shoppers and encourage a shift towards hybrid automobiles for environmental safety, Nakano mentioned throughout a Monday assembly with Dang Xuan Phong, Get together chief of Vinh Phuc province, dwelling to a Toyota Vietnam manufacturing facility.
Dang Xuan Phong (proper), Secretary of the Get together Committee of Vinh Phuc province, hosts Toyota Vietnam’s CEO Keita Nakano on February 10, 2025.
Toyota Vietnam is implementing measures to scale back manufacturing prices, decrease car costs, and improve advertising and marketing efforts to increase its enterprise within the nation, Nakano added.
In response to Toyota’s proposal, Phong acknowledged that provincial authorities would submit requests to the federal government and parliament for consideration.
He additionally urged the Japanese automaker to mull assembling and manufacturing high-end fashions in Vietnam whereas rising native manufacturing capability and decreasing automotive import.
Final month, the Vietnamese subsidiaries of Honda and Toyota, each primarily based in Vinh Phuc, known as on the provincial authorities to suggest tax and charge incentives for cars and hybrid electrical automobiles (EVs) to related authorities.
In 2024, Toyota Vietnam contributed $884 million to the state price range, bringing its whole contributions to $13.9 billion so far.
