Chavez threatened with nationalization and Toyota

Venezuelan President Hugo Chavez made the threat that he would nationalize the local unit of the Japanese car giant Toyota. This would happen if the company starts to produce an adequate number of vehicles for local rural roads.
Chavez announced that the government will pursue a strict quotas in terms of what and how many cars can be produced in the country. Personally, he has ordered an immediate inspection of the factories of Toyota, to make it clear how ‘rural car is produced at the time transmitted Market Watch.
„They must fulfill their quotas if they do not will be expelled from the country. Will bring another company, „Chavez said firmly in a televised address.
The president was categorical that if the inspection shows that Toyota does not produce what they should, then the Government will consider withdrawal of factories and housing them in Chinese companies.
„We will deprive will nationalize, they will pay whatever it takes and will immediately call the Chinese people,“ Chavez said. According to him, companies from China are eager to produce „correct“ for the country’s cars – adapted for rural roads.

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