Toyota plans to start making about 300,000 passenger car engines a year in a US$270m Guangzhou-based factory, said Nikkei. The engines, to be made in the 70 per cent foreign- owned venture with Guangzhou Automobile, will be shipped to Toyota car assem- bly plants in Taiwan, Thailand and Japan from 2005. The plant will produce 2- to 2.4- litre engines for the Camry midsize sedan.
Assembly of 30,000 Camry passenger cars for the Chinese market will begin in the same area in 2006, pending government approval. The plant may later diversify into producing engines for other passenger models such as the Corolla, the newspaper said.