Toyota, Guangzhou Auto close to China sedan JV

Newswire

GUANGZHOU, China, July 23 (Reuters) - Japan's largest carmaker Toyota Motor Corp and Guangzhou Automobile Industry Group plan to form a joint venture to manufacture sedans in Guangzhou, the southern Chinese city's executive vice mayor told Reuters on Wednesday. Lin Yuan He, who is responsible for industrial development in the city, said the tie-up was subject to approval from authorities in Beijing. "The negotiations have been proceeding very smoothly, and construction can start right ...

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