Home / Business / Auto Tools: Save | Print | E-mail | Most Read | Comment
Toyota plant ramped up
Adjust font size:

China FAW Group Corp and Toyota Motor Corp will invest about 1.5 billion yuan (US$215 million) in enhancing production capacity at one of its Tianjin plants to meet rising demand in the Chinese auto market.

The plant's annual capacity will grow to 150,000 vehicles from 100,000 by the end of next year, Tianjin FAW Toyota Motor Co, a joint venture of the two auto makers, announced yesterday. The venture also has plans to recruit 1,500 new employees.

The venture's three plants in Tianjin will be able to produce 470,000 vehicles annually with the boosted capacity.

The Tianjin venture also announced that it will set up a research and development center to improve its ability of developing models.

The three plants, covering an area of 1.61 million square meters, now mainly produces Vios, Corolla, Crown and Reiz vehicles.

Passenger car and commercial vehicle sales rose 14 percent on a yearly basis to 922,600 units, the China Association of Automobile Manufacturers said. But the growth was the slowest in almost two years as inflation and a slumping stock market curbed demand.

(Shanghai Daily May 14, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- FAW profit more than triples in Q1
- Toyota considers opening new plant
- Toyota plans expansion at Changchun factory
- Toyota to build research center in Shanghai
Most Viewed >>
- 66 listed firms stop trading after quake
- Auto China 2008 staged in Beijing
- China's inflation soars to 8.5% in April
- FDI surges in the first four months
- China's trade surplus slows to US$16.7b in April
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?