GUANGQI TOYOTA ENGINE CO. SET UP
AsiaInfo Services, February, 2004
AsiaInfo Services 02-27-2004 Guangqi Toyota Engine Co. Set up GUANGZHOU, Feb 27, 2004 (SinoCast via COMTEX) -- Guangqi Toyota Engine Co., Ltd. (GTE), a joint venture between Guangzhou Automotive Industry Group and Toyota Motor Corp., was set up in Guangzhou,Guangdong Province, on February 25.
The engine is mainly for export. GTE is a part of the cooperation between the two companies, which has a total investment of CNY 2.2 billion (USD 1 = CNY 8.2771) with the registered capital of CNY 1.1 billion. Guangzhou Automotive Industry Group takes a proportion of 30% of the shares. The joint venture is planned to begin the production at the beginning of 2005 with a starting capacity of 300,000 per year,200,000 of which is for export. The company will apply the latest...
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