GAC Toyota upgrades NEV production capacity
GUANGZHOU -- The second-phase new energy vehicle capacity expansion project of Guangzhou Toyota Motor Co Ltd was put into operation on Tuesday in Guangzhou, capital of South China's Guangdong province.
The NEV project covers an area of 740,000 square meters with a capacity of 200,000 units per year, according to the GTMC. With the operation of the new production line, GTMC will reach an annual capacity of one million units, and become Toyota's most centralized large-scale production base in the world.
The company said it will comprehensively expand its lineup of pure electric products and accelerate the ecological layout of the new energy industry. It plans to make electric models account for nearly 60 percent of its sales by 2025 and 100 percent by 2035.
GTMC was founded in September 2004 by Guangzhou Automobile Group Co Ltd (GAC Group) and Toyota Motor Corporation, with each contributing 50 percent of the funding.
