Toyota plans $215 mln expansion at China plant
Toyota Motor Corp plans to invest 1.5 billion yuan ($214.6 million) to boost production capacity at a facility in north China by 50% to 150,000 vehicles a year, the company said on Tuesday.
The expansion at the plant in Tianjin Municipality is due to be completed by the end of 2009, the company said in a statement. The move would boost annual capacity of FAW Toyota, its venture with China’s FAW Group, to 470,000 units from 420,000 units, and Toyota’s overall capacity in China to roughly 690,000 units, a company spokeswoman said.
Toyota, which also makes cars in the southern city of Guangzhou, sold 499,000 vehicles in China last year, up 62% from a year earlier and beating its target of 480,000. China’s official Shanghai Securities News said in March that Toyota and FAW planned to invest 3.6 billion yuan to double the capacity of a facility in the northeastern Chinese city of Changchun to 200,000 units, but the company has not confirmed the report. (Reuters)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.