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TOYOTA Yaris Production Scheduled to Start in China in Mid-2008
Tokyo — TOYOTA MOTOR CORPORATION (TMC) announced today that Guangzhou Toyota Motor Co., Ltd. (GTMC), a joint vehicle production and sales company established with Guangzhou Automobile Group Co., Ltd. (Guangzhou Automobile) in China in 2004, is scheduled to begin production of the Yaris (known as the Vitz in Japan) in mid-2008. The Yaris, whose annual production volume is expected to be approximately 80,000-90,000 units, will mark the second vehicle series to be produced by GTMC, following the Camry, which went into production in May this year.
In line with its planned production of the Yaris, GTMC is set to increase its capital by 49 million U.S. dollars (approx. 5.7 billion yen).
Market needs in China are diversifying as the "motorization" of the country continues, and, thus, calls for more-fuel-efficient, economical compact vehicles are on the rise. The decision to produce and market the Yaris in China is an effort to meet these customer needs.
As a world-class production plant, GTMC not only features the latest advanced equipment for helping to maintain strict quality standards throughout all of its vehicle-production processes, it is also making considerable efforts to keep noise to a minimum, appropriately treat wastewater, recycle waste materials and use environmentally considerate materials under its corporate policy to be a "pioneer in environmental preservation and a good corporate citizen in China". GTMC has also been actively training personnel at its engineering training center, which was established in January 2005.
Meanwhile, the GTMC-produced Camry is set to exceed its initial sales plan of 50,000 units by the end of the year by approximately 7,000 units.
Outline of GTMC
Company name : Guangzhou Toyota Motor Co., Ltd. (GTMC)
Location : Guangzhou Nansha Economic and Technological Development Zone, Guangdong, PRC
Representatives President: Toru Kuzuhara
Executive vice president: Yuan Zhongrong
Establishment : September 1, 2004
Duration of joint venture : 30 years
Capitalization : 1.3 billion yuan RMB (approx. 17.3 billion yen)
Equity participation : Guangzhou Automobile: 50%; TMC: 30.5%; Toyota Motor China Investment (TMCI): 19.5%
Number of employees : Approx. 3,500
Land area : 1,900,000m2
Product lineup : Camry
Production capacity : 200,000 units/year (from October 2006)
Start of production : May 2006
In line with its planned production of the Yaris, GTMC is set to increase its capital by 49 million U.S. dollars (approx. 5.7 billion yen).
Market needs in China are diversifying as the "motorization" of the country continues, and, thus, calls for more-fuel-efficient, economical compact vehicles are on the rise. The decision to produce and market the Yaris in China is an effort to meet these customer needs.
As a world-class production plant, GTMC not only features the latest advanced equipment for helping to maintain strict quality standards throughout all of its vehicle-production processes, it is also making considerable efforts to keep noise to a minimum, appropriately treat wastewater, recycle waste materials and use environmentally considerate materials under its corporate policy to be a "pioneer in environmental preservation and a good corporate citizen in China". GTMC has also been actively training personnel at its engineering training center, which was established in January 2005.
Meanwhile, the GTMC-produced Camry is set to exceed its initial sales plan of 50,000 units by the end of the year by approximately 7,000 units.
Outline of GTMC
Company name : Guangzhou Toyota Motor Co., Ltd. (GTMC)
Location : Guangzhou Nansha Economic and Technological Development Zone, Guangdong, PRC
Representatives President: Toru Kuzuhara
Executive vice president: Yuan Zhongrong
Establishment : September 1, 2004
Duration of joint venture : 30 years
Capitalization : 1.3 billion yuan RMB (approx. 17.3 billion yen)
Equity participation : Guangzhou Automobile: 50%; TMC: 30.5%; Toyota Motor China Investment (TMCI): 19.5%
Number of employees : Approx. 3,500
Land area : 1,900,000m2
Product lineup : Camry
Production capacity : 200,000 units/year (from October 2006)
Start of production : May 2006