Toyota just extended its investment to Silicon Valley. (Photo : Reuters)
Toyota Motor Corp. (7203.T), the biggest car manufacturer in the world by sales amount, is planning to launch two hybrid automobiles in China this year.
The car maker giant has been planning to launch two hybrid cars in China with the objective of creating vehicles that will help in reducing pollution in the country.
Toyota aims to manufacture gasoline-electric hybrid cars called Corolla and Levin Hev. These hybrid cars are planned to be unveiled on the third quarter of the current year. The Japanese car maker revealed its ideas at the Shanghai Auto Show on Sunday night, Reuters reported.
Toyota has collaborated with two firms to make this plan work out within the year. Toyota and Guangzhou Automobile Group (GAC) (601238.SS) (2238.HK) will be making the Levin Hev car, while its partnership with FAW Group will produce the Corolla model.
GAC is a car manufacturer located in Guangzhou that produces passenger cars and commercial vehicles. This Chinese firm was able to manufacture 728,000 vehicles in 2012. It was the tenth biggest output in the car industry of China that time.
Faw Group is a Chinese car manufacturer located in Changchun. The automobile maker became China's first car-maker company when it launched the country's first domestically produced passenger car. FAW is one of China's "Big Four" automobile makers, together with Chang'an Motors, SAIC Motor, and Dongfeng Motor.
Since 2009, China has been the world's largest automobile manufacturer with its sales increasing 6.9 per cent 23.5 million units of vehicles in 2014 explained the China Association of Automobile Manufacturers, according to Business Insider.
