BEIJING: Japan’s Toyota Motor Corp will build additional capacity at its auto plant in China’s Guangzhou, a company source said, in addition to…
BEIJING: Japan’s Toyota Motor Corp will build additional capacity at its auto plant in China’s Guangzhou, a company source said, in addition to beefing up production at a factory in Tianjin city by 120,000 vehicles a year.
A person close to the company said Toyota will build capacity at the production hub in the south China city of Guangzhou to also produce an additional 120,000 vehicles a year, an increase of 24 per cent over current capacity.
All together, between the eastern port city of Tianjin and Guangzhou, Toyota will boost its overall manufacturing capacity by 240,000 vehicles a year, or by about 20 per cent.
Toyota’s production capacity in China is 1.16 million vehicles a year.
Reuters reported earlier this week that Toyota plans to build additional capacity in Tianjin to produce 10,000 all-electric battery cars and 110,000 plug-in hybrid electric cars a year.
China has said it would remove foreign ownership caps for companies making fully electric and plug-in hybrid vehicles in 2018, for makers of commercial vehicles in 2020, and the wider car market by 2022.
