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June 17, 2008 |
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| Guangzhou Toyota to Set Up Second Production Line |
Tokyo — TOYOTA MOTOR CORPORATION (TMC) announced today that Guangzhou Toyota Motor Co., Ltd. (GTMC), a joint manufacturing company with Guangzhou Automobile Group Co., Ltd. (Guangzhou Automobile), is to establish a second production line at its plant in Nansha District, Guangdong, China.
The new line—to manufacture the "Camry"—is scheduled to start production in mid 2009 and will have an annual production capacity of 120,000 vehicles, which is scheduled to increase to 200,000 in the future. Additional investment of approximately 380 million U.S. dollars is expected.
Once operational, the new line will increase GTMC's annual production capacity from 200,000 to 320,000 vehicles, enabling GTMC to better respond to the expanding Chinese market.
Outline of GTMC (as of end of May 2008)
| Company name |
Guangzhou Toyota Motor Co., Ltd. (GTMC) |
| Representatives |
Chairman: Zhang Fangyou (chairman, Guangzhou Automobile)
Vice Chairman: Akira Sasaki (senior managing director, TMC)
President: Toru Kuzuhara
Executive Vice President: Yuan Zhongrong (vice president, Guangzhou Automobile) |
| Establishment |
September 1, 2004 |
| Duration of joint venture |
30 years |
| Capitalization |
330 million U.S. dollars |
| Equity participation |
Guangzhou Automobile: 50%; Toyota Motor (China) Investment Co., Ltd. (TMCI): 19.5%; TMC: 30.5% |
| Number of employees |
Approx. 5,200 |
| Location |
No. 8 Shinan Da Dao, Nansha District, Guangzhou, Guangdong, PRC |
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Line No. 1 |
Line No. 2 (planned) |
| Land area |
1,100,000m2 |
800,000m2 |
| Start of production |
May 2006 |
Mid-2009 |
| Product lineup |
Camry, Yaris |
Camry |
| Annual production capacity |
200,000 units |
120,000 units |
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