Toyota halts Changchun plant expansion
Published: 18 May 2009 22:07:32 PSTShanghai, May 18 (Gasgoo.com) Toyota Motor Corp has nearly suspended the construction of its new plant project in northeastern China's Changchun city, mainly because the Japanese automaker's sales have dropped sharply in the global and Chinese markets.
On October 27, 2008, Sichuan FAW Toyota Motor Co., Ltd. (SFTM), a joint venture between Toyota Motor and China FAW Group, held a groundbreaking ceremony for its new, 4 billion yuan ($586 mln) plant in FAW's home city of Changchun, Jilin province. The plant, Toyota's sixth with FAW, was scheduled to have an annual capacity of 100,000 units, with the Corolla cited as the model intended for manufacture.
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