UPDATE 1-GM to form China venture with FAW, invest $293 mln


* GM agrees to $293 mln light commercial vehicle JV with FAW * New China plant to add 100,000 units capacity by end-2010 * New JV to focus on China, may export in future (Adds executive quotes, details) By Fang Yan and Edmund Klamann SHANGHAI, Aug 30 (Reuters) - General Motors [GM.UL] said on Sunday it has agreed to set up a light commercial vehicle production venture with major Chinese automaker FAW Group, with total investment of 2 billion yuan ($293 million). The 50-50 joint ...

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