Hot on the heels of the news that Toyota is planning on expanding its capacity to produce electric vehicles in Tianjin, they have now announced that their operations in Guangzhou will be growing to increase overall automotive production capacity by approximately twenty percent.
Toyota’s current production capacity is approximately 1.16 million vehicles per year, with the expansion in Guangzhou alone extending their capabilities by an additional 240,000. In a recent statement by Toyota, they have recently stated that the expansion in Guangzhou will also be for electric vehicles.
Not coincidentally, China has said that it will remove foreign ownership caps for companies producing hybrid and fully electric cars, as well as urging the production and purchase of EVs through subsidies and incentives. There has been some discussion that Toyota has been preparing to expand their global sales networks while focusing more on their EV lines. When pressed, representatives have declined to comment stating that they are not authorized at this time to disclose information regarding their strategies.
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