Jun. 12, 2006
Sichuan FAW Toyota Increases Production Capacity
with Addition of Upscale Land Cruiser Prado VX
Tokyo ― TOYOTA MOTOR CORPORATION (TMC) announced today that Sichuan FAW Toyota Motor Co., Ltd. (SFTM), a joint vehicle-production company established with China FAW Group Corporation (FAW) in China in 2005, has added a second version of the Land Cruiser Prado to its production lineup, raising SFTM's overall annual production capacity from 20,000 units to 23,000 units.
The newly added version of the Land Cruiser Prado―the higher-grade Land Cruiser Prado VX―started rolling off the line today at SFTM's Chengdu Plant, which also makes the Land Cruiser Prado GX*. Both versions are for the Chinese market; until now, the Land Cruiser VX sold in China was only made in Japan.
Like the Land Cruiser Prado GX, the Land Cruiser Prado VX is to be sold through FAW Toyota Motor Sales Co., Ltd.'s approximately 220 authorized dealers, which started accepting orders from customers today. The Land Cruiser Prado VX is priced at 558,000 Chinese yuan (approximately 7.87 million yen).
With this latest development, Toyota's total annual vehicle production capacity in China now stands at 343,000 units.
| Company name | Sichuan FAW Toyota Motor Co., Ltd. (SFTM) | |
| Representatives | President: Haruaki Hoshino Vice President: Liu Jurong |
|
| Date of establishment | July 2005*2 | |
| Capitalization | Approx. 67 million U.S. dollars | |
| Equity participation | FAW: 50%; TMC: 45%; Toyota Tsusho Corporation: 5% | |
| Location | Head Office: Chengdu City, Sichuan Province |
Branch: Changchun City, Jilin Province |
| Start of production | December 2000 | October 2003 |
| Product lineup | Coaster, Land Cruiser Prado | Land Cruiser, Prius |
| Production capacity | 13,000 units/year | 10,000 units/year |
| Site area | 177,000 m2 | 75,000 m2 |
| Number of employees | Approx. 1,300 | Approx. 500 |
*2Originally named and established as Sichuan Toyota Motor Co., Ltd., in November 1998; re-established in July 2005 as SFTM through merger with Changchun FAW Fengyue Auto Co., Ltd., which was established in July 2003.
