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Toyota plans to ramp up China production to regain market share by 2030

Business Standard LogoBusiness Standard6d ago

Toyota plans to ramp up China production to regain market share by 2030 - Business Standard

Quick Summary:

The bigger number represents a 63 per cent increase on the record 1.84 million vehicles it produced in China in 2022.Last year it produced 1.75 million vehicles there.

It also intends to transfer as much of the development responsibility as possible to China-based staff who have a better grasp of local market preferences, particularly around electrified and connected car technology, two of the people said.

The plan, which has not been previously reported, represents a strategic pivot by the world's top selling automaker in the world's largest car market, underlining its ambition to claw back business lost to BYD and other local players in recent years.


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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 11:07:48 (6 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 673 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23509223

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 116 posts per day

Year Established: 1975

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News Last Updated: 2 hours ago

Coverage Areas: India

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Publisher ID: #49

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