Toyota has plans to increase its electric vehicle production capacity by constructing a ¥8.5 billion (AU$1.84 billion) electric car plant in China.
According to a report from Reuters, the plant – which should see a production output of 200,000 ‘new energy vehicles’ yearly – is set to be built in the Tianjin municipality in collaboration with Toyota’s local partner, FAW Group.
The new factory will produce plug-in hybrid, full-electric and fuel-cell system vehicles.
Toyota is also part of a joint venture with Chinese carmaker GAC, which produces a hybrid Levin (Corolla).
Toyota’s investment in the plant follows last week’s announcement that the Japanese marque has invested AU$607 million in a Chinese-backed autonomous driving startup.