Toyota holds groundbreaking ceremony for new Changchun plant in China
TOYOTA MOTOR CORPORATION (TMC) announced 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—held a groundbreaking ceremony today for its new plant in Changchun City, Jilin Province.
Approximately 200 people, including Changchun City government officials, as well as FAW President Xu Jianyi and SFTM President Haruaki Hoshino, attended the ceremony, held in the Development Zone of the Automobile Industry in Changchun.
Although precise plans for the new SFTM plant are still to be finalized with FAW and the other parties concerned, current plans are for an investment of 4 billion yuan and an annual production capacity of 100,000 units of the Toyota "Corolla".
Outline of SFTM (As of September 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% | |
| Plant name | Chengdu Plant | Changchun Fengyue Plant |
| Location | #9, Tiao Deng He Nan Road, ChengHua District, Chengdu, Sichuan | No. 5 Gate, Dongfeng Street,Changchun, Jilin |
| Start of production | December 2000 | October 2003 |
| Product lineup | Coaster, Land Cruiser Prado | Land Cruiser, Prius |
| Production capacity | 13,000 units/year | 10,000 units/year |
| Site area | 177,000 m2 | 75,000 m2 |
| Number of employees | Approx. 1,700 | 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