Hey, did you hear about Toyota's big move in China? It seems like they’re finally taking a huge leap to stay relevant there! They’re planning to boost their production up to 3 million cars a year in China by the end of the decade, aiming to catch up with some of the fast-growing local EV makers, like BYD. Apparently, they’re even reorganizing things so that their China-based teams can take the lead in product development—something people say is crucial if Toyota wants to stay in the game.
But here's the catch: other Japanese carmakers like Mitsubishi are actually pulling out of China, and even Honda and Nissan are scaling back. So, Toyota’s approach is really unique. They’re putting their faith in their Chinese joint ventures and hoping that a more localized strategy will bring them back on track. Some folks think it’s “too little, too late,” though. Local brands like FAW’s Hongqi and GAC’s Aion are selling more than the models Toyota’s joint ventures are making. It’s a serious pivot, but let’s see if it works out for them.
