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.
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