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Chavez threatens to expropriate Toyota in Venezuela


Agence France-Presse
First Posted 10:25:00 12/25/2009

Filed Under: Automotive Equipment, Government, Machine Manufacturing

CARACAS, Venezuela?President Hugo Chavez has threatened to expropriate a Toyota plant in Venezuela because the local managers refuse to build all-terrain vehicles.

Chavez, speaking at a public event late Wednesday, also issued a warning to Ford, General Motors, and Fiat, which also have assembly plants in Venezuela.

"I immediately order an inspection of the Toyota plant, to see why they do not want to build all-terrain vehicles," Chavez said.

"We have to force them, and if not they can leave and we'll bring in another company," he said.

"The Chinese want to come, the Chinese make the all-terrain," he said.

Chavez asked for a minimum quota of Toyota all-terrain vehicles built in Venezuela, and threatened to expropriate their plant if they refused to comply.

"Let's suppose those people (from Toyota) don't want to. Well, we'll tell them to leave, this is our house. And we'll take those same warehouses and factories, we'll pay them whatever they are worth, we aren't going to rob anyone, and then we'll quickly call the Chinese," he said.

Chavez also warned the "traditional" auto companies operating in Venezuela to be ready to transfer their know-how to the locals. "If they don't want to, they can leave," Chavez said. "We don't need them, we aren't interested."

The Venezuelan leader on Wednesday delivered autos imported from Argentina "without intermediaries" that were sold at affordable prices and distributed through a new network of "socialist" outlets.



Copyright 2012 Agence France-Presse. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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