Toyota to Build Its First Transmission Plant in China

Toyota Motor Corp. says it will spend $285 million to open its first transmission factory in China in September 2014.

The facility in Changshu will have initial annual capacity to make 240,000 continuously variable transmissions, all for vehicles with small-displacement gasoline engines. Toyota says the factory will employ about 850 workers.

The plant will be operated by a new company, Toyota Motor (Changshu) Auto Parts Co Ltd., which was created on Monday. The factory is less than two miles from the new R&D facility Toyota is building in Changshu.