Toyota Plans 7th Corolla Factory in China

America’s Big Three car companies are in the tank. Toyota Motor Corp. is planning its 7th factory in China – Changchun, Jilin Province. The facility will manufacture 100,000 cars a year.

The joint venture is Sichuan FAW Toyota Motor Co. The plant will cost Toyota Y4B.

Toyota’s goal was to sell 40% more cars in China this year but, golly, darn, the company’s sales were UP only 23.8%. All told, Toyota will sell about 640,000 cars in China this year. The goal is to sell 1 million each year by the mid 2010’s.

Changchun already has one plant that is turning out 10,000 Prius vehicles each year.

And, meanwhile, America’s Big Three continue to restructure.