Toyota Trader Unit to Build Rare-Earth Plant in India
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Toyota Tsusho Corp., the trading company part-owned by Toyota Motor Corp., will build a rare earths plant in India that will help secure supplies from 2012.
The plant, to be based in Orissa province, will provide 3,000 metric tons to 4,000 tons annually of the metals used in hybrid and electric cars, the Nagoya-based company said in a statement on its website today. Construction will begin in 2011.