Toyota announced two big investments totaling $529 million dollars in the past months, to double their production capacity in China and meet growing demand.
The goal: reach sales of 1 million units and 10 percent market share by 2010.
This is an equal part joint venture between Toyota and local First Automotive Works Group (China’s #2 automaker).
Will reach annual output of 30,000 units of Coaster light commercial vehicles and Land Cruiser Prado SUVs at Chengdu factory. Production will begin in first half of 2010.
Their Changchun factory makes 10,000 Land Cruiser and Prius units per year. Other factories in Tianjin produce Corolla, Reiz, and Vios sedans.
This is a joint venture between Toyota and Guangzhou Auto that produces Yaris and Camry models.
The plan is to add a second production line and reach capacity of 400,000 units.
Tags: automotive, auto industry, automotive industry, China, Chinese auto industry, Chinese automotive industry, Sichuan FAW Toyota Motor, Guangzhou Toyota, Guangzhou Auto, FAW, First Automotive Works, Toyota
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