Toyota, China FAW Joint Venture To Produce 200,000 Cars Annually – Brief Article
The newly-announced joint venture between Toyota Motor Corp. and China’s FAW Group Corp. will make 200,000 cars a year
Toyota spokesman Masashi Honda said Toyota and FAW would make “mini cars” at FAW’s facility in Tianjin starting in mid-2003, with annual production of about 100,000 vehicles. Production of Toyota-branded luxury sport utility vehicles, or SUVs, will also start in mid-2003, Honda said. They will be made at a facility in Changchun that will produce 10,000 to 20,000 vehicles a year, he said.
Production of medium- and large-sized luxury sedans will start in 2005. Toyota said it hopes to produce 50,000 of those vehicles a year at the facility in Tianjin. FAW Group Corp., also known as First Automotive Works, is China’s largest vehicle maker. It is also a joint-venture partner with Volkswagen AG and is the parent of FAW Car Co.
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