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Fuji Heavy, GM to Produce Minivehicles in China
Fuji Heavy Industries Ltd. and General Motors Corp.(GM) of the United States will jointly produce minivehicles in China under a new five-year business plan, Takeshi Tanaka, president of the Japanese firm, said Wednesday.
Tanaka told reporters his company and GM's Chinese unit plan to start marketing the jointly produced cars in China by fiscal 2005. GM is Fuji Heavy's largest shareholder.
The new business plan, which covers a five-year period from fiscal 2001, also calls for a joint project between Fuji Heavy and Suzuki Motor Corp. to develop fuel-efficient small cars for sale in Europe.
In the Japanese market, Fuji Heavy plans to put on the market by September a new multi-seat wagon based on a model developed by GM's Adam Opel AG and will be produced by GM's Thai plant for sale under Fuji Heavy's Subaru brand.
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