Toyota plans new plants in China
Considers new facilities in Guangzhou and Shanghai.
Toyota aims to increase sales in China to 2 million units a year by 2025 and may increase production with two new plants in China, the Nikkei reports. From 2015 onwards, Toyota will produce fully hybrid vehicles in China with its joint venture (JV) partners FAW group and the Guangzhou Automobile Group (GAC). Toyota will use small cars, such as the Yaris and Vios, to expand sales in China's interior regions, offering these models at low prices to appeal to first-time young car buyers. Toyota will also increase its model lineup in China to include the US-geared Corolla sedan, the report states. Toyota currently has four factories for the production of vehicles and according to the report is considering building new facilities in Guangzhou and Shanghai.
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