Toyota to boost capacity in China

Toyota Motor Corp., Japan’s largest automaker, plans to invest 1.5 billion yuan (US$217.3 million) to boost production capacity at the No. 2 plant of Tianjin FAW Toyota Motor Co. Ltd. to 150,000 units from the current 100,000 units. It will also establish an R&D center to further intensify its research and development. Tianjin FAW Toyota has three plants in China, producing its best-selling models such as Vios, Corolla, Reiz and Crown. The total capacity of these plants is 420,000 vehicles per annum. In addition, Toyota may consider building a Lexus production line in China if the model’s annual sales reach 30,000 units, said a senior executive at Toyota’s China venture. In the first 10 months of 2007, Toyota sold 22,102 units of Lexus, an increase of 136% from the previous year. (June 4, 2008)