Toyota, Panasonic setting up EV battery JV amid rising China competition: source
Toyota Motor Corp (7203.T) and Panasonic Corp (6752.T) are set to launch a joint venture next year to produce batteries for electric vehicles (EV) in an effort to compete with Chinese rivals, a source familiar with the matter said.
Orocobre Market Update – Online Briefing
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VW, China spearhead $300 billion global drive to electrify cars
Global automakers are planning a $300 billion surge in spending on electric-vehicle technology over the next five to 10 years, with nearly half of the money targeted at China, accelerating the industry’s transition from fossil fuels and shifting power to Asian battery and EV technology suppliers.
August 21, 2018
Japan’s Toyota Motor Corporation will build additional capacity at its auto plant in China’s Guangzhou, in addition to beefing up production at a factory in Tianjin city by 120,000 vehicles a year. A person close to the company said Toyota will build capacity at the production hub in the south China city of Guangzhou to also produce an additional 120,000 vehicles a year, an increase of 24 percent over current capacity.
All together, between the eastern port city of Tianjin and Guangzhou, Toyota will boost its overall manufacturing capacity by 240,000 vehicles a year, or by about 20 percent. Toyota’s production capacity in China is 1.16 million vehicles a year. Reuters reported earlier this week that Toyota plans to build additional capacity in Tianjin to produce 10,000 all-electric battery cars and 110,000 plug-in hybrid electric cars a year.
FULL ARTICLE: Toyota to increase production capacity in China by 20 percent