UPDATE 1-Toyota, Volvo ink $257 mln in China engine deals

Newswire

(Adds details, analyst comments) By Ben Blanchard and Yuka Obayashi SHANGHAI/TOKYO, March 29 (Reuters) - China's top auto maker inked two deals worth $257 million on Monday to make engines with Toyota and truck maker Volvo , helping them make vehicles more cheaply in China by avoiding costly import tariffs on parts. In the larger of the deals, Toyota will set up a 50-50 joint venture worth 16 billion yen ($152 million) with First Automotive Works (FAW), to make about 40,000 engines a ...

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