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Toyota wants to use more hybrid system parts made in China

CHANGSHU, China (Reuters) – Toyota Motor Corp (7203.T) wants locally procured parts to make up at least half the components in the gasoline-electric hybrid propulsion systems for the Corolla and Levin cars it plans to start making in China next year. Shinichi Matsumoto, Vice President for Toyota Motor Engineering & Manufacturing in China, said Toyota needs that level of local content in order to bring down prices of hybrids and to generate more sales in the world’s biggest auto market. Toyota, which currently pays costly tariffs and transport…