Toyota to build new factory in Malaysia

Japanese automotive giant Toyota announced Wednesday it will build a new $489m car assembly factory in Malaysia with an annual production capacity of 50,000 vehicles. The company said in a statement it "decided to reorganise its production system in Malaysia, given the gradual growth of the Malaysian market, with the creation of a new vehicle plant".

The 670,000-square metre factory, to be located at an industrial estate in the central state of Selangor, will begin operations in 2019. The existing factory in Malaysia will stop manufacturing passenger vehicles by early 2019 and focus on commercial vehicles instead.