CXN reports that Toyota has received official approval to start building its second car plant in Tianjin.
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The CXN report said that Toyota plans to build its factory in the Tianjin Economic-Technological-Development area to make cars with First Automotive Industry (Group) Co.
A Toyota spokesman told the newswire that investment and production details would be decided this year or early next year.
In August, Toyota announced that it had agreed to invest about $US2.5 billion with China’s First Automotive Industry (Group) Company (FAI) to build up to 400,000 cars a year.
The new factory in Tianjin will start making 50,000 mid-sized luxury sedans a year by 2005. Toyota has just begun the manufacture in Tianjin of the Vios at a rate of around 30,000 units per annum.
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By GlobalDataAdditionally, Toyota also plans to make 100,000 minicars a year in Tianjin with Tianjin Auto subsidiary Huali.
