Toyota Motor Corp. and First Automotive Works (FAW) of China ink a ¥2.75 billion ($25 million) joint venture for FAW to sell minivehicles produced by Toyota’s Daihatsu Motor Co. Ltd. The JV, FAW Toyota Motor Sales Co. (FTMS), will handle sales and after-sales service of Dario-brand vehicles and parts and accessories made in China, including the midsize Coaster bus and Vios small passenger car. FTMS launches Nov. 1 with 68 dealers in China and headquarters in Beijing. FAW will hold the ...

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