Toyota planning $1.84 billion Chinese electric car factory

Toyota has plans to increase its electric vehicle production capacity by constructing a ¥8.5 billion (AU$1.84 billion) electric car plant in China. According to a report from Reuters, the plant – which should see a production output of 200,000 ‘new energy vehicles’ yearly – is set to be built in the Tianjin municipality in collaboration with Toyota’s local partner, FAW Group.