Toyota Sees Growth in China as Other Carmakers Falter
What’s new: Japanese auto manufacturer Toyota Motor Corp. sold 1.8 million vehicles (link in Chinese) in China last year, up 11% year-on-year, the carmaker said Thursday.
“In the future, Toyota and Lexus will continue their mission of ‘mass-producing happiness’ for Chinese consumers, the company said in a statement.
What’s the background: The China Association of Automotive Manufacturers estimates sales in the world’s biggest car market last year dipped 1.9% to 25.3 million vehicles.
General Motors Co., one of Toyota’s main rivals in China, saw its sales fall 6.2% last year to 2.9 million vehicles, the company said Wednesday.
Toyota-backed autonomous vehicle startup Pony.ai won a license from the Guangzhou municipal government last month to test self-driving trucks on the city’s public roads after raising $267 million in its latest fundraising round.
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