Toyota, FAW to build luxury sedans in China


TOKYO, Aug 29 (Reuters) - Toyota Motor Corp and China's biggest auto group, First Automotive Works (FAW), said on Thursday they had signed a pact to collaborate on production of luxury sedans, minivehicles and sport-utility vehicles in China. Toyota, Japan's largest automaker, and FAW said in a joint statement that they would aim for production and sales of 300,000 to 400,000 vehicles a year in the fast-growing Chinese market by 2010. The announcement had been expected, as Japanese media ...

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