China OKs Toyota's plan for joint venture with Chinese firm

China OKs Toyota's plan for joint venture with Chinese firm

NAGOYA, Japan - China has approved a plan by Toyota Motor Corp. to build passenger cars in collaboration with a Chinese automaker in the northern Chinese city of Tianjin, Toyota President Fujio Cho (L) says in Nagoya on May 29. Toyota's plan to form a joint venture with Tianjin Automobile Xiali Corp. for the manufacture of up to 30,000 compact cars a year has been given the green light by China's Ministry of Foreign Trade and Economic Cooperation, Toyota said.

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