Report: GAC Toyota Motor will invest $1,644 million to expand NEV capacity

Published: May 7, 2019 15:34

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By 2022, it will add and commission new capacity of NEVs by 400,000 units

SHANGHAI, May 7 (SMM) – GAC Toyota Motor, a Guangzhou-based joint-venture between GAC Group and Toyota Motor Company, will invest 11.33 billion yuan, or $1,643.94 million, for new energy vehicle (NEV) capacity expansion, GAC Group announced on Monday May 6.

By 2022, GAC Toyota Motor will add and commission new capacity of NEVs by 400,000 units.

Market commentary New Energy Vehicle NEV

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