UPDATE 1-Toyota, FAW to build luxury cars in China

Newswire

(Adds details, shares price) TOKYO, Aug 29 (Reuters) - Toyota Motor Corp and China's biggest automaker, First Automotive Works, said on Thursday they had signed a deal to collaborate on production of luxury sedans, minivehicles and sports-utility vehicles in China. Toyota and FAW said they would aim for production of 300,000 to 400,000 vehicles a year by 2010 for sale in the fast-growing Chinese vehicle market. "Both companies view this new dimension to their relationship as helping ...

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