Toyota Motor Corp. said Oct. 27 it plans to build its seventh plant in China for US$586 million, according to the Associated Press.
The plant will be built as part of a 50-50 joint venture with Chinese partner FAW Group Corp. in the northeastern province of Changchun where the company will produce 100,000 Corollas, according to the AP report.
The company is responding to strong demand in China where sales between January and September 2008 increased 24% over the previous year to 429,000 units, AP reports.
