Toyota Partnered With 5 Chinese Manufacturers

Toyota Partnered With 5 Chinese Manufacturers

Japanese automotive firm Toyota has agreed with Chinese manufacturers to develop electric cars. Having signed with 5 manufacturers in China, which holds the largest electric car production market, Toyota announced that it will work on the fuel cell system. Increase in New Partnerships Continues Increasing electric car production and developing market brings new business partnerships with it. One of these partnerships was established between Japanese automotive giant Toyota and Chinese manufacturers. Toyota has partnered with the names of FAW, Dongfeng, Beijing Automotiv, GAC and Beijing SinoHytec in its new Beijing based firm. Established with an investment of 46 million dollars, 65 percent of the firm belongs to Toyota. This initiative of the Japanese automotive giant Toyota, as well as hybrid vehicles in the future; He points out that he will also start developing fully electric vehicles. In addition to having the largest automotive market, China also; it also stands out as the country where most electric cars are sold. So much so that Tesla, the US, had the opportunity to establish China's first factory abroad in China, taking advantage of the market size of China.