Toyota's Bold Strategy: Aiming for 2.5 Million Vehicles Annually in China by 2030
Toyota's Bold Strategy: Aiming for 2.5 Million Vehicles Annually in China by 2030 Toyota’s Strategic Shift: Aiming for 2.5 Million Vehicles Annually in China by 2030 Toyota’s bold plan to ramp up production in China aims to compete more effectively with local EV manufacturers. Target production of at least 2.5 million vehicles annually by 2030, marking a shift in Toyota’s China strategy. By Maki Shiraki Tokyo, November 9 (Reuters) – Toyota is set to increase its annual vehicle production in China to at least 2.5 million units by 2030 , according to sources familiar with the matter. The new plan represents a major shift in strategy, focusing on streamlining its Chinese operations by bringing together local sales and production activities while giving greater autonomy to local management teams. This move is Toyota’s response to the growing competition from domestic Chinese automakers, such as BYD, which have gained significant market share, especially in the electric vehicle (EV)
