TOKYO, Apr 12, 2010 - (ACN Newswire) - Toyota Motor Corporation (TMC) announces that today GAC Toyota Motor Co., Ltd. (GTMC), TMC's joint vehicle-production and sales company with Guangzhou Automobile Group Co., Ltd. (Guangzhou Automobile) in China, held a ceremony and
press conference in Guangzhou, Guangdong, to mark the beginning of production and sales of the "Camry Hybrid" sedan. Sales start at 107 of GTMC's dealers but are planned to eventually expand to its entire dealer network.
Approximately 350 people attended the ceremony, including local and central government officials, various suppliers, dealers and members of the media. More than half a million units of the non-hybrid "Camry" have been sold in China
between its launch there in June 2006 and the end of February 2010. Plans call for the Camry Hybrid to be priced between 319,800 yuan and 364,800 yuan.
TMC has been actively carrying out business activities aimed at popularizing hybrid vehicles in China. At the end of 2005, the "Prius" became the first hybrid vehicle to be launched in China. The Prius was followed in 2007 by the hybrid version of the Lexus-brand flagship, the "LS600h" luxury sedan, and the Lexus "RX400h*" SUV.
The Camry Hybrid follows the Lexus "GS450h" sports sedan, launched in 2009, to become the fifth Toyota- or Lexus-brand hybrid vehicle launched in China.
Outline of GTMC
Company name: GAC Toyota Motor Co., Ltd.
Location: No. 8 Shinan Da Dao, Nansha District, Guangzhou,
Guangdong, China
Representatives: President: Toru Kuzuhara
Executive vice president: Feng Xing Ya
Establishment: September 1, 2004
Joint venture term: 30 years
Capitalization: 332,860,000 U.S. dollars
Equity: Guangzhou Automobile: 50%
TMC: 30.5%
Toyota Motor (China) Investment Co., Ltd.
(TMCI): 19.5%
Number of employees Approx. 6,700 (as of start of April 2010)
Land area Approx. 1,900,000 m2
Product lineup Line No. 1 - Camry (since May 2006)
- Yaris (since June 2008)
Line No. 2 - Highlander (since May 2009)
- Camry Hybrid (since April 2010)
Annual production Line No. 1 - 200,000 units
capacity Line No. 2 - 160,000 units
*Redesigned and renamed the "RX450h" in 2009.
Contact:
Toyota Motor Corporation
Corporate Communications Department
Public Affairs Division
Tel: +81-3-3817-9150
Topic: New market for product
Source: Toyota Motor Corporation
Sectors: Automotive
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