Australian 'Green' Car Fund Attracts Toyota

Despite earlier concerns that Japan's Toyota was reconsidering the viability of producing in Australia, the company has announced plans to produce the hybrid version of its Camry sedan in the country. During a trip to Japan, Australian Prime Minister Kevin Rudd met with Toyota's CEO Katsuaki Watanabe to make the joint announcement, after Toyota was granted AUD35mn from the government's fund for the development of 'green' cars. Rudd is keen to address issues within the industry, including job cuts and reducing vehicle emissions, and has set up the AUD500mn fund with these issues in mind.

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