Japanese auto giant Toyota Motor has announced plans to freeze new factory developments in Thailand and Russia as it is affected by slowing demand worldwide, according to the Sankei daily.
Toyota is scaling back on capital expenditure plans in a bid to weather the global economic downtrend and falling automotive demand.
Toyota had unveiled plans in June 2008 for a new 150,000-unit diesel engine factory in Thailand, which would increase the company's diesel engine production capacity to 350,000 units by 2010, according to the news source.
The Japanese auto major has also announced suspension of plans to build a second plant at its St Petersburg factory in Russia, as production at the existing facility has remained below anticipated volume.
