Toyota to build new factory in China, capacity to reach one million cars per year

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Toyota is set to invest 4 billion RMB factory with its joint venture partner, FAW, in North East China which will give FAW-Toyota the ability to produce nearly 1 million cars per year in China.

The factory will be built in Changchun, and will be Toyota’s 6th factory that they use in cooperation with FAW, the latest factory will be able to produce 100,000 Corolla compact cars per year.

Toyota also has plans to expand two of its existing factories in South China with its other joint venture partner, Guangzhou Automotive which would give Guangzhou-Toyota a production boost of 200,000 cars per year.

The combination of new, and expanded factories, will give Toyota the capacity to build 1.1 million cars per year in China alone. Toyota is also aiming to sell 1 million cars per year in China by 2010.