Toyota inaugurates R&D center in Thailand

Toyota inaugurates R&D center in Thailand

Toyota Motor Corporation held a ceremony for its latest research and development (R&D) center in Thailand on May 11, 2005. Toyota indicated that the opening of the R&D center follows the establishment of a similar R&D technical center in Australia that began operation in March. Thailand R&D center aims to meet the needs of the growing markets in Asia and Oceania. With the addition of the R&D unit in Thailand's Samut Prakan province, Toyota now conducts major component design and evaluation at R&D facilities in five major market regions, Asia, North America, Europe, Australia and Japan. As previously reported by SteelOrbis, Toyota has reported record profits for financial year ended on March 31, 2005. These new developments can respond the analysts' expectation of Toyota could dislodge GM from the world number one slot.