From Investing.com: 2024-11-10 22:05:38

Toyota plans to produce at least 2.5 million vehicles a year in China by 2030, a 63% increase from 2022. The move aims to regain market share from local players like BYD. Toyota will integrate sales and production operations in China and empower local executives for efficient development. Operating income in China has fallen due to intense competition. Mitsubishi Motors Corp has exited China, while Honda and Nissan are reducing production capacity.



Read more at Investing.com: Toyota aims to ramp up China production in a strategy pivot, sources say By Reuters