Toyota Motor Corp(NYSE:TM) shared ambitious production goals for China while maintaining a cautious stance towards the U.S.

The Japanese automaker plans to produce at least 2.5 million vehicles annually in China by 2030.

Toyota aims to bring its sales and production operations closer together and give local executives more control over development, Reuters reports.

Also Read:Bath & Body Works Stock Downgraded Due To This Risk: Details

This strategic shift marks a notable pivot for the automaker as it seeks to regain market share lost to local competitors like BYD.

Unlike other global automakers, including fellow Japanese brands scaling back...