Toyota to build electric car plant in Tianjin, China
"Toyota Motor" has decided to build a plant to produce electric vehicles in Tianjin, China. In China, the world's largest automotive market, it appears likely to meet the government's mandated regulations and further increase sales.
According to stakeholders, Toyota has decided to build a plant to produce electric vehicles and plug-in hybrid vehicles in a joint venture with a local manufacturer in an economic development zone in Tianjin, China, and has applied for a plan with the local government.
The construction cost is about RMB 8.5 billion = more than 130 billion yen in Japanese yen, and the production capacity is expected to be around 200,000 units a year, and we plan to complete it in the first half of the 2020s.
In China, the government has mandated that automakers and others make a certain percentage of electric vehicles and plug-in hybrid vehicles.
In China, the spread of the new coronavirus has affected factory operations and other factors, but it is also the world's largest market for electric vehicles and plug-in hybrid vehicles.
As a result, Toyota, which has strong sales in China, is expected to expand local production of electric vehicles and further increase sales by complying with government regulations.