The Chinese government gives the go-ahead to Toyota Motor Corp. for its planned joint venture with Guangzhou Automobile Industry Group Co. Ltd. The China State Council approved the JV, which initially is expected to turn out 10,000 Camry sedans per month beginning in mid-2006 and raise output to 200,000 units annually soon after. The JV will be owned 70% by Toyota, with Guangzhou holding the remaining 30%. Total investment reportedly is RMB2.2 billion ($265.8 million). Toyota already ...
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