Toyota's Chinese JV to build Corolla assembly plant in Changchun
Tue. October 28, 2008; Posted: 12:37 AM
NAGOYA, Oct 28, 2008 (Asia In Focus via COMTEX) --
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PowerRating -- TOYOTA MOTOR CORP. (TSE:7203)
said Monday that its Chinese joint venture will build a plant
in Changchun, Jilin Province, that will be capable of
manufacturing 100,000 Corollas a year. The joint venture,
SICHUAN FAW TOYOTA MOTOR CO., held a groundbreaking ceremony at
the construction site Monday.
* It plans to invest 4 billion yuan (US$583.8 million) in
the factory, but other details, such as when the facility will
start production, have yet to be decided.
* Auto sales are slowing in China. Toyota set a goal of
increasing Chinese sales by 40 per cent this year, but
January-September results fell short of this target, recording
a 23.8 per cent sales gain to 429,000 units.
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