THE NATION WILL SOON HOST A CAR MANUFACTURING FACILITY OPERATED BY JAPANESE AUTOMAKER TOYOTA TSUSHO CORPORATION.
According to a statement released by State House Kenya, the corporation has agreed to make an initial Ksh800 million investment in Kenyan Thika automobile producers.
This follows the signing of a framework agreement on Wednesday, February 7, 2024, between Kenya and Toyota for cooperation in the production of automobiles and the development of renewable energy.
According to a statement released by State House Kenya, the corporation has agreed to make an initial Ksh800 million investment in Kenyan Thika automobile producers.
While on a state visit to Japan, President William Ruto stated that the action would improve possibilities for Kenyans, support the country's industrial sector, and boost Kenya-Japan relations.
"The amount of newly manufactured and imported vehicles needs to be balanced," stated Ruto.
Additionally, Ksh15 billion for Meru Wind Farm Energy, Ksh8 billion for Isiolo Solar Energy, and Ksh75 billion for Menengai Geothermal Plant were inked by Kenya and Japan.
"It also entailed the promotion of electrified Vehicles including hydrogen electric vehicles and hybrid vehicles," stated the State House.
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