Toyota Motor Corporation just rolled off its first Chinese-built Camry sedan which is based on the highly succesfull U.S. model. The launch, from Toyota’s new $475 million factory in Nansha, near the southern city of Guangzhou, symbolizes the automaker’s ambitions for China, which is about to surpass Japan as the world’s second-largest auto market.
The former Camry was the lead import model in China during the past decade, selling about 30,000 cars annually. By shifting production to China, Toyota hopes to double its sales. Toyota’s new plant comes with an annual output capacity of 100,000 units, though it aims to build 60,000 units this year.
The new China-built Camry will sell for between $25.000 to $35.000.