The FINANCIAL — TOYOTA MOTOR CORPORATION (TMC) announced that Sichuan FAW Toyota Motor Co., Ltd. (SFTM) — a joint vehicle-production company established with China FAW Group Corporation (FAW) in China's Sichuan Province — held a groundbreaking ceremony today for its new plant in Changchun City, Jilin Province.
Approximately 200 people, including Changchun City government officials, as well as FAW President Xu Jianyi and SFTM President Haruaki Hoshino, attended the ceremony, held in the Development Zone of the Automobile Industry in Changchun.
Although precise plans for the new SFTM plant are still to be finalized with FAW and the other parties concerned, current plans are for an investment of 4 billion yuan and an annual production capacity of 100,000 units of the Toyota "Corolla".
