Divestment from VEAM Corp hampered by joint venture commitments

Toyota Vietnam has announced the recall of more than 11,300 cars of three models with faulty airbags.

Leading auto firms are embarking upon domestic production, reversing from a planned shift to imports.

The number of cars imported last month marked a 45.6 percent increase over May this year, according to the General Department of Vietnam Customs.

This is the largest invesment ever by an automaker in the global ride-hailing sector.

Corolla, Prius and Lexus models are among those that will be recalled.

Over 2,000 Honda cars will be the first batch of foreign-made autos to undergo the new checks this week.

Vietnam’s new decree is aimed at protecting the local auto industry now that import taxes within the region have been eliminated.

The airbags produced by Japanese manufacturer Takata have been linked to 17 deaths worldwide.

Toyota last year suffered its first drop in annual profit in five years.

The luxury cars were manufactured in Japan between November 2015 and June 2016.

Japan has eight domestic automakers in an intensely competitive market.

Hanoi Opera House

Toyota Motor Corp said late on Tuesday it is recalling 1.43 million hybrid Prius and Lexus CT200h cars worldwide because of a possible airbag inflator defect.