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Government OKs Toyota's second plant in Guangzhou
Shanghai. November 22 (Gasgoo.com) – The National Development and Reform Commission, China's top economic planning and regulatory body, has recently approved Toyota's second plant project in Guangzhou, Chinese newspaper Beijing News reported today.
"Guangzhou Toyota has a regular capacity of 200,000 vehicles per annum, and we can raise that capacity to 240,000 units by adding more shifts, but that's the ceiling capacity for us," said Ge Yuanzhe, general manager of Guangzhou Toyota.
Toyota's hot-selling compact sedan Yaris, which is being displayed at Guangzhou Auto Show, will also be locally produced in Guangzhou plant by the middle of next year.
To increase the output of its popular model Toyota Camry and accommodate the newly-introduced Yaris, Guangzhou Honda has to open a second plant. "We are planning to open the second plant as our output capacity can no longer meet market demands," Ge said.
The second plant will start production in the third quarter next year. Guangzhou Toyota will have a total capacity of half a million per annum after the completion of its second plant in Guangzhou, according to Chinese media report.
Guangzhou Toyota was established in September 2004, with an initial output capacity of 200,000 vehicles per annum.
Separately, Toyota Motor China president Isogai Masashi said at the 5th International Automobile Exhibition in Guangzhou that the company aimed to sell 700,000 vehicles in China next year, up 46 percent from this year. The company also vowed to grab 10 percent of Chinese auto market by 2010.
Guangzhou Toyota sold 136,910 Camry vehicles in the first ten months, which represents a stunning increase of 316.4 percent from one year earlier.
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