Toyota aims to ramp up China production, Reuters reports

Toyota (TM) aims to make at least 2.5M vehicles a year in China by 2030, three people said, an overhaul that will see it bring its Chinese sales and production operations closer together and allow local executives a freer hand in development, Reuters’ Maki Shiraki reports. The plan, which has not been previously reported, represents a strategic pivot by the world’s top selling automaker in the world’s largest car market, underlining its ambition to claw back business lost to BYD (BYDDF) and other local players in recent years, the publication said.