Toyota, FAW JV to make luxury car engines in China

Newswire

TOKYO, March 29 (Reuters) - Toyota Motor Corp , Japan's top auto maker, said on Monday it had formed a joint venture with its Chinese partner, First Automotive Works (FAW), to make engines for luxury cars in the city of Changchun in northeast China. The 50-50 percent joint venture, called FAW Toyota Changchun Engine Co Ltd, will spend 16 billion yen ($152 million) to build the plant with an annual capacity of 130,000 engines. The plant will start manufacturing 3.0-litre V6 gasoline engines ...

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