Toyota Motor Corp. and First Automotive Group (FAW) reportedly are planning to jointly produce luxury models for the Chinese market. Toyota and its current joint venture partner, Tianjin Automotive Industry Corp., will establish a plant in Tianjin, northern China, to begin production in 2005 of a successor to FAW’s luxury Hong-Qi model, says Japan’s Nihon Keizei Shimbun. Toyota’s U.S. arm declined to comment on the report. The paper says the plant’s initial annual capacity will be ...
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