Toyota to build THIRD factory in China
Chinese consumers just cant stop buying those Camrys, and Yaris automobiles.
TOYOTA Motor Corp began building a second plant in Guangzhou, China today to meet rising demand in the worlds second largest vehicle market, Bloomberg said today.
The new plant will make Camry sedans and Yaris compacts, Liang Jing, an official in the management department of Toyotas venture in the southern Chinese city, said by phone today. The factory will take more than a year to build, she added.
Work on the factory, Toyotas seventh in China, follows the opening of its third plant in the northern city of Tianjin last month. The company aims to boost sales in the country by a third this year and to grab a 10 percent share of the Chinese car market by 2010.