Toyota has decided to build a new plant in Tianjin, China, in collaboration with its Chinese partner, the FAW Group, to produce new energy vehicles (NEVs) - electric, hybrid and fuel cell vehicles.
According to documents published by the eco-city authorities, the Japanese company's investment in the new production facility will amount to 8,5 billion yuan ($1,22 billion). They also indicate that the plant's production capacity will be 200 vehicles per year.
Toyota already has four factories in China. Work on them was suspended due to the outbreak of coronavirus infection COVID-19. In mid-February, the company announced its decision to reopen factories in Changchun, Guangzhou and Tianjin. And a few days ago, Toyota launched production at the Chengdu plant.
Despite the Chinese auto market contracting by 2019% in 8,2, the Japanese company sold 1,62 million Toyota vehicles here last year, as well as premium Lexus brand models, showing sales growth of 9% year on year.
Source: 3dnews.ru