UPDATE 3-China's top auto firm strikes deal with Toyota

Newswire

(recasts adding company quotes, analyst comment, details) By Tiffany Wu SHANGHAI, Aug 29 (Reuters) - China's largest auto maker, FAW, cemented a partnership with Japan's Toyota Motor Corp on Thursday by agreeing to produce jointly up to 400,000 cars a year by 2010 and take a controlling stake in Toyota's current Chinese partner. The pact to make a broad range of cars -- from luxury sedans to compacts to sport-utility vehicles -- aims to win a 10 percent share of the rapidly growing but ...

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