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April 28, 2010

CHINA: Toyota to build new Chinese plant

Toyota Motor Corporation (TMC) is to start production at a new plant in China in the first half of 2012. The groundbreaking of the site had initially taken place in October 2008, but plans were put on hold as the financial crisis bit.

Toyota Motor Corporation (TMC) is to start production at a new plant in China in the first half of 2012.

Site groundbreaking had initially taken place in October 2008, but plans were put on hold as the financial crisis bit.

The facility will be the third plant of Sichuan FAW Toyota Motor Co (SFTM), a joint venture between TMC and China FAW Group Corporation (FAW).

The new plant – located in Changchun, Jilin Province – will initially produce the Corolla on a scale of 100,000 units annually.

The new investment will total approximately CNY3.8bn (US$550m).

Production by Toyota Motor Corporation soared more than 80% in March compared to depleted year-ago levels, figures out earlier this month showed.

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