Exclusive-Toyota aims to ramp up China production in a strategy pivot, sources say By Reuters
By Maki Shiraki
TOKYO (Reuters) – Toyota aims to make at least 2.5 million vehicles a year in China by 2030, three people said, an overhaul that will see it bring its Chinese sales and production operations closer together and allow local executives a freer hand in development,
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 (SZ:) and other local players in recent years.
Toyota’s strategy is in contrast to that of other global automakers, including Japanese ones, that are either scaling back or pulling out of China.
It aims to boost production to as much as 3 million…
