Shanghai (ZXZC)- FAW-Toyota prepared to construct a new plant with annual capacity of 200,000 NEV in Tianjin, a local media outlet reported on Feb. 27, for the second time expanding NEV capacity since 2018.

(Photo source: FAW-Toyota)

Located at Binhai New District in Tian, the yet-to-be-built plant is said to cover an area of around 1.97 million square meters and involve a total investment of RMB8.495 billion, according to the aforementioned media outlet, citing a file from local authority. Besides, Tianjin government expects to make evident headway in this project by 2020.

The new plant is in all likelihood built to manufacture the BEV model jointly developed by Toyota and BYD, a source close to the matter said on condition of anonymity. However, “the fact shall be in compliance with the official announcement,” said BYD, in response to the rumor.

In August 2018, the Sino-Japanese joint venture was approved by local government to expand the NEV capacity for its Taida plant by 120,000 units per year, including 110,000 PHEVs and 10,000 BEVs.

Moreover, GAC Toyota, the Japanese automaker's another joint venture in China, would beef up production by 400,000 NEVs a year, added with RMB15 billion worth of capital from both parent companies, a local media reported in last December.

Toyota, which is renowned for its hybrid technology, is trying to move faster in BEV field. In China, it has forged partnership with leading NEV manufacturer BYD pursuant to both parties agreed to establish a joint company to research and develop BEVs. The 50/50 joint venture, which will work on designing and developing BEVs (including platform) and its related parts, is anticipated to be established in China this year.

Prior to the agreement on joint venture, both parties had struck a deal in last July to co-develop all-electric sedans and low-floor SUVs as well as the onboard batteries for these vehicles with the aim of launching them in the China under the Toyota brand in the first half of the 2020s.