Toyota, FAW set up joint sales company in China

Newswire

TOKYO, Oct 28 (Reuters) - Japan's Toyota Motor Corp said on Tuesday it has set up a joint venture with Chinese partner First Automotive Works (FAW) to sell cars made by Toyota and its minivehicle unit Daihatsu Motor Co . FAW Toyota Motor Sales Co (FTMS) will begin operations on November 1 with 68 dealers across China, the world's fastest-growing car market. FAW, China's largest auto maker, has a similar sales venture with market leader Volkswagen AG of Germany. By establishing an ...

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