Toyota to start new China plant in 1st half of 2012

TOKYO, April 28 (BestGrowthStock) – Toyota Motor Corp (7203.T: ) said
on Wednesday it would begin production at a new Chinese factory,
construction of which had been put on hold during the financial
crisis, in the first half of 2012.

The site would be the third factory operated by Toyota’s
local joint venture with the FAW Group, Sichuan FAW Toyota Motor
Co.

Toyota, the world’s biggest automaker, had held a
groundbreaking ceremony for the plant, in Changchun, just as the
financial crisis hit global vehicle demand in October 2008, and
did not disclose a planned date for the start of production.

Toyota said in a statement the 3.8 billion yuan ($557
million) plant will initially produce the Corolla model at a
pace of 100,000 units a year.

Toyota currently has total production capacity of 800,000
units a year in China.

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(Reporting by Chang-Ran Kim)

Toyota to start new China plant in 1st half of 2012