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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData