On August 29, Phase 2 of the capacity expansion project of new energy vehicles of GAC Toyota (the "Phase 2 of the Project“) was officially started. Mayor Wen Guohui of Guangzhou City, Ishizuka Hideki, consul general of Japan in Guangzhou City, Lu Yixian, secretary of the Party Committee of Nansha District of Guangzhou City, Deputy Mayor Hu Hong of Guangzhou City, Tatsuro Ueda, general manager of Chinese headquarters of Toyota Motor Corporation and vice chairman of GAC Toyota, as well as Chairman Zeng Qinghong, General Manager Feng Xingya and Executive Deputy General Manager Wu Song of GAC Group took part in the activity. Upon completion, the project of 740,000 m² in area will contribute the local output value of more than 50 billion yuan each year. Then, the production capacity of GAC Toyota will be dramatically raised, over 30 supporting manufacturers of peripheral components and parts will be driven, ntributing the local industrial output value exceeding 100 billion yuan.