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Toyota plans 3M vehicle output in China by 2030

Toyota plans to ramp up its annual vehicle production in China to at least 2.5 million by 2030, potentially reaching up to 3 million, as it seeks to reclaim market share lost to domestic EV makers like BYD. This strategic pivot involves consolidating its sales and production operations, giving local executives more control, and better integrating local partner expertise. Unlike other global automakers pulling back from China, Toyota is betting on deepening its commitment and streamlining its joint ventures by reducing “twinned vehicles” and consolidating production at individual sites, aiming to enhance development speed and meet the demand for advanced, affordable EVs. This expansion signals Toyota’s recognition of the need to adapt quickly to China’s competitive market, despite pressures from high marketing costs and intensifying price competition.

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