GTMC TO MANUFACTURE TOYOTA CAMRY SEDAN
AsiaInfo Services, September, 2004
AsiaInfo Services 09-10-2004 GTMC to Manufacture Toyota Camry Sedan GUANGZHOU, Sep 10, 2004 (SinoCast via COMTEX) -- Guangzhou Automobile Group Co., Ltd. (Guangzhou Automobile) and Toyota Motor Corporation (TMC) has made a total investment of CNY 3.821 billion in Guangzhou Toyota Motor Co., Ltd.
(GTMC) with registered capitalof CNY 1.3 billion. Guangzhou Automobile and TMC respectively take 50 percent of the stakes in GTMC, which is expected to have an annual production capacity of 100,000 vehicles, with production and sales of the mid-size Toyota Camry sedan scheduled to begin in the first half of 2006. Referring to the problem whether GTMC will merge into the salesnetwork of FAW Toyota, Zhang Fangyou, chairman of Guangzhou Automobile, discloses that GTMC...
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