Toyota will build a 300 million Australian dollars ($277 million) plant in Melbourne that will produce greener engines that deliver reduced carbon emissions, the company said Friday.
The plant will begin operations in the second half of 2012, said Toyota Australia chief executive Max Yasuda. It will include the production of more than 100,000 hybrid engines and four-cylinder new generation engines annually.
Toyota Motor Corp. has said the more environmentally sustainable engine will deliver reduced carbon emissions and improved fuel consumption.
The plant is backed by AU$63 million in federal and state government funding.
"A partnership between local carmakers, the government and suppliers is fundamental for ensuring we evolve our industry to deal with the challenges of a carbon constrained world," Yasuda told reporters.
Federal Industry Minister Kim Carr said the investment would secure up to 30,000 direct and indirect jobs.
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