Toyota and Chinese joint venture partner First Automotive Works (FAW) are to invest 3.6bn yuan to expand production capacity at an existing plant in Changchun, in northeastern China's Jilin province, the official Shanghai Securities News reported.
Toyota and Chinese joint venture partner First Automotive Works (FAW) are to invest 3.6bn yuan to expand production capacity at an existing plant in Changchun, in northeastern China’s Jilin province, the official Shanghai Securities News reported.
The expansion will increase the plant’s annual capacity to 200,000 units from 10,000, and the project is due to be completed by 2013, the newspaper said, according to XFN-Asia.
The plant is expected to be capable of annual revenue of 30bn yuan after the expansion, the report added.
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