TOYOTA will invest $123 million in its Australian manufacturing operations.
The federal and Victorian governments will contribute to the package, it was announced on Monday.
Toyota's Altona plant in Victoria will receive a $108 million investment.
The remaining $15 million will be spent to expand Toyota's supplier development program over the next five years, Toyota Australia said.
Toyota will build a "facelift" vehicle - an upgraded version of an existing model - from 2015, but has not disclosed which model.
The federal government has contributed $23.6 million with an unspecified amount coming from the Victorian government.
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