BANGKOK -- Toyota Motor Corp. will invest about five billion baht ($120 million) in a Bangkok-based regional research and technical center, a company source said on Friday.
The official said Toyota's new Bangkok research center will be one of two such offices it plans to open in the Asia-Pacific region, with another similar center being located in Australia.
He did not say when the research center would be launched but said the official announcement of the investment would be made next week.
The top Japanese auto maker said last September the company and affiliated parts and components suppliers would invest more than 30 billion baht to raise production of light pick-up trucks in Thailand to around 200,000 units per year by mid-2004.
It said about half of the expanded truck output by 2004 would be for export to more than 80 countries and territories.