Costa Rica Business News
  • June 20, 2024
  • Last Update June 19, 2024 10:48 am

Toyota Tsusho Corporation Increases Stake in Grupo Purdy from 10% to 25%, Bolstering Strategic Presence in Central America

Toyota Tsusho Corporation Increases Stake in Grupo Purdy from 10% to 25%, Bolstering Strategic Presence in Central America

Guanacaste, Costa Rica — In a strategic move reflecting confidence in the Central American market, Toyota Tsusho Corporation has expanded its investment in Grupo Purdy, Costa Rica’s leading automotive solutions provider, from 10% to 25%.

This enhancement of their stake underscores Toyota Tsusho’s commitment to bolstering its influence in the region, with Grupo Purdy at the helm of their strategy.

This move is poised to reinforce Costa Rica’s status as a burgeoning hub for the electric vehicle market in Central America. Grupo Purdy, which has been at the forefront of promoting electric mobility, has also announced plans to open seven new service centers across the country.

This investment by Toyota Tsusho is a national pride and a testament to the strength and potential of our industry in Costa Rica. It opens up invaluable strategic opportunities and access to global best practices

Alejandro Rubistein, CEO of Grupo Purdy

This expansion is set to include the distribution of heavy and public transport vehicles from four new brands, enhancing the company’s offerings and operational footprint.

Grupo Purdy’s initiatives such as the “Te llevo” transportation service and the innovative Purdy Connect application highlight the company’s forward-thinking approach. These tools not only optimize employee transportation but also enhance vehicle monitoring and control capabilities for customers.

These innovations are expected to be pivotal as Toyota Tsusho leverages Grupo Purdy’s expertise to foster similar advancements globally.

In a region where the adoption of electric vehicles is rapidly gaining momentum, this investment aligns with broader trends towards cleaner, more sustainable transportation solutions.

Grupo Purdy’s recent introduction of XPENG electric vehicles, now among the top five in sales in Costa Rica, reflects this growing market demand. The company’s collaboration with multinational corporations, which are increasingly transitioning to electric fleets, further solidifies its leadership in this sector.

Approximately 15% of new vehicles sold in Costa Rica this year are electric, up from around 10% last year. This significant increase indicates a robust market trend towards sustainable vehicle solutions

Alejandro Rubistein, CEO of Grupo Purdy

The strengthened partnership between Toyota Tsusho and Grupo Purdy not only enhances their market position but also contributes to Costa Rica’s emerging role as a central hub for electric vehicle innovation and competition in Central America.

For further information, visit toyota-tsusho.com

About Toyota Tsusho Corporation:
Toyota Tsusho Corporation, a key investment arm of the Toyota Group, is dedicated to exploring new business opportunities and fostering sustainable growth. Their diverse portfolio spans automotive, energy, chemicals, and global trading operations, with a commitment to driving innovation and development across industries.

For further information, visit grupopurdy.com

About Grupo Purdy:
Grupo Purdy, a leader in Costa Rica’s automotive industry, provides comprehensive transportation solutions. Known for their commitment to innovation and sustainability, Grupo Purdy continually strives to enhance customer experiences and expand their market reach through strategic partnerships and technological advancements.

Costa Rica Business News
Founded in 2004, TicosLand has firmly established itself as a pivotal resource for the corporate community in Costa Rica. Catering to a substantial international readership, TicosLand provides timely and essential updates and press releases pertaining to the myriad businesses operating within Costa Rica.

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