Toyota Motor will produce engines in Guangzhou, China Time:2004-3-1 8:09:22 Source: Xinhua News Agency According to Japanese media reports, Toyota Motor Corporation of Japan announced on February 25 that it has formed a partnership with China’s Guangzhou Automobile Group. A joint venture company that produces automotive engines. According to reports, the capital of the joint venture company is RMB 1.1 billion, Toyota Motor holds a 70% interest, and Guangdong Automobile holds the remaining equity. Toyota Motor Corp said that the joint venture plans to produce 25,000 2.4-liter engines in 2005 for export to Japan and will have 300,000 units of capacity in the future. The report said that the project's total investment is 2.2 billion yuan.
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