The Prime Minister Kevin Rudd and Toyota President Katsuaki Watanabe announced this morning in Nagoya, Japan that Toyota Australia will produce 10,000 hybrid Camrys a year, at Altona, from 2010.
Victorian Premier John Brumby said the announcement was a significant coup for Australia, and a project the Federal and Victorian Governments had been working hard on for some time.
Mr Rudd said: "We are delighted Toyota has decided to invest in the Australian car industry and build the hybrid Camry at Altona."
"The Federal Government is talking to all the car and component makers about ways to build cleaner greener cars, to reduce carbon emissions and improve fuel efficiency, as part of building a sound future for the Australian vehicle industry.
"We are very pleased that Toyota has taken the lead. The hybrid Camry will be the first green vehicle of its kind to be manufactured in Australia," he said.
Mr Brumby said: "Fuel efficient cars are the future of the automotive industry."
"I have been personally advocating for a hybrid car to be built in Victoria. During my recent trip to Japan, I met with the President of Toyota Katsuaki Watanabe to discuss the prospect of Victoria becoming home to a locally built hybrid car and I am pleased Toyota has now made this decision.”
"The production of the hybrid Camry will create additional local automotive jobs and shows that automotive industry is capable of adapting and meeting the global challenges of climate change."
Mr Rudd said: "As part of its $500 million Green Car Innovation Fund, the Federal Government will provide $35 million in assistance to Toyota Australia to help secure a new era and a new direction for green automotive production in Australia.”
The Victorian Government will also make a financial contribution to the project.
The hybrid Camry will be the greenest car manufactured in Australia with lower emissions than any other Australian-produced model.