In response to the rapid transformation of electric vehicles in the Chinese market, Toyota, the world's best -selling car manufacturer and Japanese car company, has been adjusted in China, and about 1,000 contract employees of Chinese joint ventures have been reduced.
According to Bloomberg News on Tuesday (July 25), a Toyota spokesman said that based on the current production conditions, the joint venture employees of Toyota and Guangzhou Automobile Group were abolished before the contract expires.
Chinese car buyers favor Tesla and BYD electric vehicles, coupled with the slow transition speed of Toyota, Honda and Nissan to electric vehicles, leading to the decline in sales of these Japanese car companies in China.In 2022, Toyota's car delivery in China has fallen for the first time in 10 years.
Toyota spokesman said that the joint venture called GAC Toyota will issue compensation to the dismissed employees in accordance with the law.
Toyota New President Sato Sato promised at the Shanghai Auto Show in April that the brand will accelerate the development of electric vehicles suitable for the Chinese market.
Earlier this month, another Japanese car company Mitsubishi Motor also announced that after years of sluggish sales, the company decided to suspend the business in China.
