Toyota plans to build 2nd plant in Guangzhou by 2009
Toyota Motor Corp plans to construct its second auto assembly plant in Guangzhou
HONG KONG (XFN-ASIA) - GUANGZHOU, China (XFN-ASIA) - Toyota Motor Corp plans to construct its second auto assembly plant in Guangzhou, Guangdong province with local partner Guangzhou Automobile Group Co, the Nihon Keizai Shimbun reported.
The report said an estimated 20-30 bln yen is to be invested in setting up the plant, which is expected to come on stream in early 2009.
It said Toyota plans to produce mainly the Highlander sport utility vehicle, known in Japan as the Kluger, with an initial production capacity of about 100,000 units a year.
Toyota's first Guangzhou factory, whose opening ceremony will be held Tuesday, is expected to turn out around 100,000 Camry cars a year and add the Vitz subcompact to its lineup in 2008.
Toyota plans to double its annual production capacity in Guangzhou to 400,000 units by 2010, the report said.
In China, Toyota has teamed up with Guangzhou Automobile and China FAW Group Corp, the country's largest car manufacturer.
With China FAW, Toyota produced 240,000 vehicles in four locations in 2005 and a third factory is to begin produciton in its main hub in Tianjin in 2007, the report said.
By 2010, Toyota's joint venture production with China FAW is expected to produce roughly 500,000 units a year.
The newspaper said China is forecast to overtake Japan and become the world's second-largest automobile market, after the US, as early as this year.
The report said an estimated 20-30 bln yen is to be invested in setting up the plant, which is expected to come on stream in early 2009.
It said Toyota plans to produce mainly the Highlander sport utility vehicle, known in Japan as the Kluger, with an initial production capacity of about 100,000 units a year.
Toyota's first Guangzhou factory, whose opening ceremony will be held Tuesday, is expected to turn out around 100,000 Camry cars a year and add the Vitz subcompact to its lineup in 2008.
Toyota plans to double its annual production capacity in Guangzhou to 400,000 units by 2010, the report said.
In China, Toyota has teamed up with Guangzhou Automobile and China FAW Group Corp, the country's largest car manufacturer.
With China FAW, Toyota produced 240,000 vehicles in four locations in 2005 and a third factory is to begin produciton in its main hub in Tianjin in 2007, the report said.
By 2010, Toyota's joint venture production with China FAW is expected to produce roughly 500,000 units a year.
The newspaper said China is forecast to overtake Japan and become the world's second-largest automobile market, after the US, as early as this year.
