the Japanese automaker Toyota plans to build a new plant for the production of electric cars in China with its local partner FAW Group, reports Reuters with reference to the municipal government of Tianjin.
a Joint venture between Toyota and FAW plans to invest around 8.5 billion yuan (about 1.22 billion dollars) in the construction of car plant in Tianjin, the report said the city government. According to the document, the plant will have a production capacity of 200 000 new vehicles a year.
Toyota declined to comment on the project, but said in a separate statement that the company sees China as one of its most important global markets and is always planning various measures that should be implemented in China to "meet the needs of business development in the country."
In the past year, despite a drop in the overall car market in China 8.2%, Toyota sold in this country of 1.62 million vehicles, which is 9% higher than a year earlier.
It is also expanding production capacity at its venture in Guangzhou with its other partner GAC.
