Toyota plans new $1.2 billion EV plant in Tianjin with FAW: document
FILE PHOTO: A logo of Toyota is pictured at Bangkok Auto Salon 2019 in Bangkok, Thailand, July 4, 2019. REUTERS/Athit Perawongmetha/File Photo BEIJING/TOKYO (Reuters) - Japanese automaker Toyota plans to build a new electric vehicle plant in the Chinese city of Tianjin with its local partner FAW Group, a document from the local authorities showed. The joint venture between Toyota and FAW plans to invest around 8.5 billion yuan ($1.22 billion) in the planned car plant in Tianjin, according to a document issued by authorities of the China-Singapore Tianjin Eco-city. The plant will have manufacturing capacity of 200,000 new energy vehicles a year, the document showed. In China, new energy vehicles include battery-only, plug-in hybrid and fuel-cell vehicles. Toyota declined to comment on th...