Toyota in China: Plant renovation and parts localization speed up
Increasing local component production and hybrid sales ratio
・The company will invest JPY 111.5 billion in renovating two lines at its plants in Guangzhou and Tianjin for the preparation of the global roll-out plan for Toyota New Global Architecture (TNGA), in view of the sluggish demand in China.
・Toyota's production capacity at the plants will increase by 80,000 units to 1.13 million vehicles. Toyota's vehicle sales in China topped 1 million units in 2014. The company has set a new sales target at 1.1 million units for 2015.
・Toyota Motor Engineering & Manufacturing (China) Co., Ltd. (TMEC) is enhancing the development of hybrid vehicles for the Chinese market. TMEC plans to develop at least 15 green vehicles and increase Toyota's sales ratio of hybrid vehicles to 30% by 2020.
・Toyota Motor (Changshu) Auto Parts Co., Ltd. (TMCAP) has become Toyota's first plant outside Japan that produces continually variable transmissions (CVTs). Toyota will make electric vehicles available starting with FAW Toyota’s own Ranz brand , and GAC Toyota’s own Leahead brand. Toyota is also considering local production of plug-in hybrid vehicles (PHVs).
* Growth in China slumps to 1.5% in first half of 2015 (Aug. 2015)
Auto Shanghai 2015 reports (May 2015):
* European and U.S. OEMs unveil plug-in hybrids
* PHVs by Japanese, Chinese and Korean OEMs
* SUVs and concept vehicles
* Chinese market to grow 7% in 2015 (Mar. 2015)