Tianjin FAW Toyota plant no. 2 to increase production capacity
TOYOTA MOTOR CORPORATION (TMC) announced today that Tianjin FAW Toyota Motor Co., Ltd. (TFTM), a vehicle-production joint venture between China FAW Group Corporation (FAW) and TMC, plans to increase the annual production capacity at its Plant No. 2 from 100,000 to 150,000 vehicles toward the end of 2009.
The increase in annual production capacity at Plant No. 2 will enable TFTM to produce 470,000 vehicles a year, allowing it to better respond to the growing automobile market in China. It will be made possible by a 23 billion yen investment of TFTM funds and is expected to lead to the creation of 1,500 jobs.
Approximately 500 people attended a ceremony to announce the decision today at Plant No. 2 in the Tianjin Economic-Technological Development Area (TEDA), including Tianjin City Vice Mayor Yang Dongliang, other city government officials, FAW President Xu Jianyi, TMC Senior Managing Director Akira Sasaki and TFTM President Masahiro Kato.
At the same ceremony, TFTM also disclosed plans to establish a research and development center as part of its efforts to enhance its vehicle development capabilities.
Outline of TFTM (as of April 30, 2008)
|Company name||Tianjin FAW Toyota Motor Co., Ltd. (TFTM)|
|Representatives||Chairman: Xu Jianyi (president, FAW)President: Masahiro Kato|
|Established||June 2000 (name changed in September 2003)|
|Duration of joint venture||30 years|
|Capitalization||Approx. 408 million U.S. dollars|
|Equity participation||FAW: 20%, Tianjin FAW Xiali Corporation, Ltd.: 30%, TMC: 40%,Toyota Motor (China) Investment Co., Ltd. (TMCI): 10%|
|Number of employees||12,100|
|Location||Plant No. 1||Plant No. 2||Plant No. 3|
|Xiqing District, Tianjin||TEDA, Tianjin||TEDA, Tianjin|
|Site Area||60,000m2||1,550,000m2(Plant No. 2 and No. 3 combined)|
|Start of production||October 2002||March 2005||May 2007|
|Number of employees||3,100||5,100||3,900|
|Product lineup||VIOS and Corolla EX||Crown and REIZ||Corolla|
|Annual production capacity||120,000 units||100,000 units150,000 units (by end of 2009)||200,000 units|