Japan's Auto Maker to Make Minicars with FAW in China

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Last updated at: (Beijing Time) Thursday, October 03, 2002

Japan's Auto Maker to Make Minicars with FAW in China

Daihatsu Motor Co. plans to start joint production of minicars and other vehicles with China's biggest auto maker FAW Group Corp. by 2005, Daihatsu officials said Thursday.

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Daihatsu Motor Co. plans to start joint production of minicars and other vehicles with China's biggest auto maker FAW Group Corp. by 2005, Daihatsu officials said Thursday.

The move follows a comprehensive tie-up made between Daihatsu's parent company Toyota Motor Corp. and the FAW (First Automobile Works) in August, and will be part of Toyota's strategic operations in China.

Daihatsu will invest more than 20 billion yen in the joint venture, which will be set up in Changchun, capital of northeast China's Jilin Province, as early as 2004, the officials said.

Much of the investment in the planned venture will be spent on building the factory, they said.

The vehicles will be targeted mainly for the Chinese market and annual production will be gradually increased to around 100,000 units, the officials said.

Demand for cars is growing in China in cities such as Shanghai,and Daihatsu has concluded that there is plenty of growth potential in the minicar market, an official said.

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