This new commitment from automotive heavyweight Toyota will lead to the creation of 800 new jobs in the Hauts-de-France region by 2020, in addition to the 4 600 staff already employed at the plant.
The reasons behind the Japanese manufacturer's decision
Firstly, the Valenciennes site will have the capacity to build 300 000 vehicles a year (as opposed to 240 000 at present).
Secondly, this investment is a real vote of confidence from Toyota, which plans to manufacture the fourth generation Yaris in France, as well as a new model by 2021.
Lastly, several parts that have, until now, been imported from Japan could be manufactured and purchased in France.
France, the second largest consumer market in Europe
The Japanese manufacturer is moving fast, having already announced it will be hiring 150 people to handle the increase in production at Onnaing. This good news reflects the competitiveness of the Yaris, sales of which are rising in Europe. According to the executive vice-president in charge of global production (excluding Japan), purchasing and sales, manufacturing performance is comparable to that of other Toyota plants across the world.
Manufacturing in France, the top European destination for foreign investment
The success of the Japanese car manufacturer shows that France is a competitive destination for manufacturing investment. While labor costs may be higher than in some other parts of the world, the advantages are clear and cannot be ignored.
France lies at the center of Europe, which means that logistics costs are much lower.
As labor accounts for 8% to 15% of a car's total cost, efficient organization is crucial to competitiveness. There is no shortage of efficiency in France, where workers are among the most productive in Europe.
Do you have a product destined for the European market? France offers a productive and creative labor force, brimming with ideas to increase the quality of your products. Carry out your project in France, and boost your exports to Europe!