Sichuan FAW Toyota to relocate Chengdu Plant, increase production capacity
TOYOTA MOTOR CORPORATION (TMC) announced today that Sichuan FAW Toyota Motor Co., Ltd. (SFTM)—a joint vehicle-production company established with China FAW Group Corporation (FAW) in China's Sichuan Province—plans to relocate its Chengdu City plant by the first half of 2010 and increase the plant's annual production capacity to 30,000 vehicles from the current 13,000.
Approximately 3.6 billion yuan is being invested in relocating the plant from Chengdu's Chenghua District to the city's Longquan Economic Development Zone and in the subsequent production capacity increase. Once completed, SFTM's total annual production capacity—when combined with the annual production capacity of its plant in Changchun City, Jilin Province—will be 40,000 vehicles.
A groundbreaking ceremony was held today at the proposed site for the new plant, which was attended by approximately 2,000 people, including Secretary of the Chengdu City Committee Li Chuncheng, local government officials, FAW President Xu Jianyi, TMC Senior Managing Director Akira Sasaki and SFTM President Haruaki Hoshino.
Outline of SFTM (As of June 30, 2008)
|Company name||Sichuan FAW Toyota Motor Co., Ltd. (SFTM)|
|Representatives||President: Haruaki HoshinoVice President: Liu Jurong|
|Date of establishment||July 2005*|
|Capitalization||Approx. 67 million U.S. dollars|
|Equity participation||FAW: 50% TMC: 45% Toyota Tsusho Corporation: 5%|
|Current||Following relocation||No. 5 Gate, DongfengStreet, Changchun,Jilin|
|#9,Tiao Deng He NanRoad, Cheng HuaDistrict, Chengdu,Sichuan||Chengdu NationalEconomic &TechnologicalDevelopment Zone,Chengdu, Sichuan|
|Start of production||December 2000||Early 2010||October 2003|
|Product lineup||Coaster,Land Cruiser Prado||Coaster,Land Cruiser Prado||Land Cruiser, Prius|
|Production capacity||13,000 units/year||30,000 units/year||10,000 units/year|
|Site area||177,000 m2||450,000 m2||75,000 m2|
|Number of employees||Approx. 1,700||T.B.A.||Approx. 500|
*Originally established as the Sichuan Toyota Motor Co., Ltd. in November 1998, and later re-established as SFTM in July 2005, through a merger with Changchun FAW Fengyue Auto Co., Ltd., established in July 2003