CHINA: Toyota-FAW JV boosting output
A Toyota Motor joint venture in China is to boost output by 50%.
The automaker on Wednesday said Tianjin FAW Toyota Motor (TFTM), its joint venture with China FAW Group Corporation (FAW), plans to increase capacity at its Plant No. 2 from 100,000 to 150,000 vehicles "towards the end of 2009".
The boost will enable TFTM to produce 470,000 vehicles a year. TFTM is investing JPY23bn in the expansion which is expected to create 1,500 jobs.
TFTM also announced plans to establish a research and development centre.