Toyota Industries Corporation announced on Jan. 29, 2008 that it is to expand its forklift production factory in Kunshan, Jiangsu, China (TIK). The investment will be 2 billion Japanese Yen. After the expansion, the yearly production capability will be 5000 units, about 2.5 times of the current capability. Since Chinese forklift market has grown to the second largest market in the world, just after USA market, Toyota is planning to expand its sales through completing the production system.

The new production system will be started from March, 2008. At present, such parts as counter weight, tire, and battery are purchased locally. With the expansion of the factory, such main parts as fork and frame will also be purchased locally. By March, 2009, the local purchase rate will be raised from the current 25% to 40%.

The total Toyota forklift sales in China in 2007 (including the Toyota products exported from Japan) are 3221 units, taking up only 3%. The company aims to sell 12000 units in 2010.