(Beijing Bloomberg) With the rapid turning of the Chinese automobile market to electric vehicles, the world's best -selling car dealer Japan Toyota adjusted production and reduced the contract employees of about 1,000 Chinese joint ventures.
A Toyota spokesman said that, in view of the current production conditions, the employees of GAC Toyota, a joint venture of Toyota and Guangzhou Automobile Group, were abolished before the contract expires, and the company will issue compensation in accordance with the law.
As Chinese car buyers gradually accept products from competitors such as Tesla and BYD, Toyota, Honda and Nissan transition to electric vehicles slowly, resulting in their decline in sales in China.In 2022, Toyota's delivery in China first declined for the first time in 10 years.
Toyota President Sato Haoji promised at the Shanghai Auto Show in April this April that the brand will accelerate the development of electric vehicles suitable for the Chinese market.
Another Japanese car dealer Mitsubishi Motor decided earlier this month. After years of sales downturn, it was suspended in China's business and layoffs.
