The Chinese joint venture between GAC and Toyota is planning to invest 11.3 billion yuan (around 1.5 billion euros) in expanding production capacities for plug-in vehicles. The plan is to expand the current capacity of 480,000 units per year by an additional 400,000 per year by 2022.
GAC Toyota, headquartered in Guangzhou, sold 161,824 new cars in the first quarter of 2019. This marks a significant increase over the previous year. The strong increase in sales makes means that they urgently need to expand capacity. The joint venture, founded in 2004, currently has three assembly lines, the latest of which is compatible with TNGA-based models. The abbreviation TNGA stands for Toyota New Global Architecture and for the platform on which various Toyota and Lexus models have been based since 2015.
At the Auto Shanghai, the Japanese company underscored their intention to enter the Chinese market on a large scale. At the show, they presented their first two fully-electric vehicles for the Chinese market, one of which is produced together with GAC. Sales are expected to start as early as next year. By 2025, Toyota plans to have at least ten BEV models in China.
– ADVERTISEMENT –