Toyota to Boost China Capacity by 35 Pct
Nagoya, Aug. 26 (Jiji Press)--Toyota Motor Corp. <7203> plans to spend about 130 billion yen to expand its vehicle production capacity in China by 35 pct to some 1.7 million units a year by 2021, company sources said Sunday.
The Japanese automaker plans to increase output of electric vehicles and sport-utility vehicles in China. Plug-in hybrid vehicles will also be made.
The plan will bring Toyota's annual capacity in China close to its North American total of some two million units.
Toyota plans to first increase its combined capacity at joint venture plants in Guangzhou and Tianjin by 240,000 units, the sources said.
The capacity of the Guangzhou plant will be then lifted by an additional 200,000 units later, the sources said.
[Copyright The Jiji Press, Ltd.]