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Sino-Japanese Automobile Joint Venture in Tianjin
The Tianjin Auto Industrial (Group) Co. Ltd and the Japanese Toyota Motor Co. Ltd have received official approval from the Chinese government to set up a joint venture to produce a new-type Toyota car designed for families.
The joint venture, with a registered capital of US$100 million, is expected to go into production in 2002, with an annual production capacity of 30,000 Toyota cars. The subsidiary of the Tianjin Auto Industrial (Group) Co. Ltd, Xiali Co. Ltd and the Toyota Motor Co. Ltd will be the partners in the joint venture.
Meanwhile, the Toyota Motors will offer technical support to the Xiali Co. Ltd to help the latter develop a new design for its own product.
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