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Report: Toyota to Partner with GAC on EVs in China
Toyota Motor Corp. plans to launch an electric vehicle in China later this year in conjunction with Guangzhou Automobile Group Co., Reuters reports.
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Toyota Motor Corp. plans to launch an electric vehicle in China later this year in conjunction with local partner Guangzhou Automobile Group Co. (GAC), sources tell Reuters.
The program reportedly has been in the works for about two years. Reuters notes that the collaboration will help Toyota meet China’s goals for so-called new-energy vehicles, while giving GAC access to Toyota’s engineering, quality control and sales resources.
GAC displayed the GS4 and several other vehicles at the Detroit auto show in January. The company aims to expand to the U.S. and other global markets in coming years. GAC formed a new subsidiary on Monday to oversee its international businesses.
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