17/06/2008 22:38. June 17 (Bloomberg) -- Toyota Motor Corp. , the fastest growing overseas automaker in China, will open a second production line at its venture in Guangzhou to keep up with rising demand for Camry sedans in Asia's biggest auto market.

The expansion will cost Toyota and partner Guangzhou Automobile Group Co. $380 million, the Japanese carmaker said in a faxed statement today. The line, with an initial capacity of 120,000 vehicles a year, is due to be completed by the middle of 2009. It will raise the Southern China venture's total capacity 60 percent to 320,000 vehicles, according to the statement.

Toyota may eventually expand the capacity of the new line to 200,000 vehicles a year, as it seeks to double production and sales in China to 1 million vehicles a year by early next decade.... // Bloomberg