Guangzhou Toyota Motor Co., Ltd. (GTMC) co-established by Guangzhou Automobile Group Co., Ltd. (Guangzhou Automobile) and Toyota Motor Cooperation (TMC) start construction in Guangzhou today (Sept. 6).

With an initial annual production capacity of 100,000 vehicles, the GTMC will produce and sell Toyota Camry sedan in mid-2006. While Guangzhou's annual vehicle production capacity will hit 500,000 in number and become one of China's largest automobile manufacturing bases, as well as one of world-class vehicle manufacturing bases.

Located at Guangzhou Nansha Economic and Technological Development Zone of Guangdong Province, GTMC involves 1.3 billion yuan with a 50-50 equity participation by Guangzhou Automobile and TMC.

Guangzhou's automobile industry, one of the Guangdong's pillar industries, experiences a swift development and Guangzhou has become one of the China's three largest sedan manufacturing bases. GTMC will greatly boost the expansion of automobile industry with its expected annual production value of 100 billion.

Editor: Olivia