Toyota Motor Corp. will invest an additional 5 billion yen (US$50.95 million) in its production venture in Chengdu, Sichuan province, and add about 500 employees, Kyodo news agency reported Tuesday. It is the first investment for the company since last year’s anti-Japan demonstrations. Toyota is aiming to increase annual production capacity at the plant to 50,000 units by 2015 from 30,000 at present. The factory makes four-liter Land Cruiser sports utility vehicles and will begin producing 2.7-liter models from March 2015, the report said.
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