Toyota to build news plant in China as it ramps up investmentApril 11, 2015 - 15:22 AMT PanARMENIAN.Net - Toyota is planning to build a new plant in northern China as the world's top automaker ramps up investment after a two-year freeze. Proposals for the plant in Tianjin -- due to open in 2018 at the earliest with a capacity of 100,000 cars a year -- should be finalised by the summer, Jiji Press and Kyodo News agency reported, according to AFP. The news comes after reports that Toyota is planning to invest a combined $1.3 billion to build new plants in the Chinese city of Guangzhou and Guanajuato, Mexico. The Japanese carmaker began operating a new Thai plant in 2013, but since then it has halted investment as the global car market has struggled with oversupply and weak demand. At the new plant, Toyota will likely produce fuel-efficient passenger vehicles under a local brand through a joint venture with a Chinese firm, the reports said. The vehicles would meet stricter environmental regulations in China, where air pollution is a serious social problem. Toyota kept its title as the world's biggest automaker last year as it announced record sales of 10.23 million vehicles, outpacing General Motors and Volkswagen. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Family of Ilham Aliyev’s security chief owns vast property in UK As head of security for Azerbaijan’s president, Eyyubov is closely trusted by one of the world’s most authoritarian leaders. Mirzoyan says meeting with Bayramov was “constructive” At the moment, Ararat Mirzoyan said, there is no basis for additional comments. OSCE vows support for Armenia “in all three directions of security” Achieving stable peace between Armenia and Azerbaijan remains a priority of the OSCE, said Ian Borg. 151 detained as civil disobedience campaigns continue in Yerevan Citizens have been blocking streets in the Armenian capital, demanding Nikol Pashinyan’s resignation. |