Toyota Opens Myanmar Plant After Coup Induced Pause: Report

Toyota Motor Corp (NYSE:TM) has started operations at a new plant in Myanmar after a hiatus following the military coup.
The Myanmar plant operations were paused, Reuters reported, for over nineteen months due to the coup and the coronavirus pandemic.
The automaker has started to assemble one to two Hilux trucks per day.
Toyota's Myanmar plant was originally planned to be opened in February 2021 when the military took to power, stopping Aung San Suu Kyi's National League for Democracy from forming a new government.
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Following the coup, there were increased calls for Japanese companies to pull out investments in the country that could benefit the military.
"We believe this meets our initial intention to contribute to the industrial development of Myanmar ... and to support our employees and their families' lives," Toyota said in a statement.
"Under these circumstances, we are continuously making every effort to comply with all relevant laws and regulations."
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Price Action: TM shares closed higher by 0.15% at $135.06 on Tuesday.
Photo Via Wikimedia Commons

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