CHINA: Toyota increases local sourcing to cut costs
Toyota Motor Corp plans to buy Chinese parts to make cars in its operations in China as a way to cut costs, instead of shipping them in from Japan, reports Mark Rowe. Toyota would procure discount door parts and materials including steel sheet from China's leading steel-maker, Shanghai Baoshan Iron & Steel. Toyota reckons that it will be able to save around 30 per cent of costs by procuring the parts locally.
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