Labor Is Giving Toyota An Extra $28.6m, On Top Of This Morning's Car Manufacturing Pledge

The Rudd Government has given Toyota an additional $28.6 million to encourage the company to spend $133 million on its manufacturing operations in Australia.

The co-investment package, announced by Minister for Industry Kim Carr this afternoon, comes on top of the government’s pre-election pledge to spend $200 million to boost Australia’s struggling automotive industry.

Toyota will spend the funds producing a “major facelift vehicle” in Altona, Victoria, as well as launching a supplier training program.

The Victorian Government also contributed an undisclosed sum to the initiative.

Now read: Holden Wants Workers To Take Shorter Lunch Breaks To Help It Save Money

Follow Business Insider Australia on Facebook and Twitter

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.