Toyota to invest US$285 million in CVT production in China

Toyota Motor Corp. announced that Toyota Motor (Changshu) Auto Parts Co., Ltd. (TMCAP) was established on July 23, 2012 in the Changshu Southeast Economic Development Zone, Jiangsu Province, in China. TMCAP is a transmission-production company which is scheduled to begin production in September 2014, with an initial capacity of 240,000 units a year. Toyota will invest approximately US$285 million on TMCAP, which is expected to create 850 jobs. The new company will primarily produce continuously variable transmissions (CVTs) which Toyota uses on its gasoline-engine vehicles with small engine displacement. The CVTs improve driving performance and provide high fuel efficiency. The production of CVTs in China is in preparation for the expected increase in demand for small-engine vehicles in in the country. (July 25, 2012)