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

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

Industry News 03:34:51PM May 07, 2019 Source:SMM

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. 

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

Industry News 03:34:51PM May 07, 2019 Source:SMM

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.