Toyota and FAW to Produce Gasoline-Electric Cars in China
Toyota Motor Corp. (Japan) announced that it will assemble gasoline-electric hybrid cars in China, responding to the government's push to develop more fuel-efficient models. Toyota will assemble kits of the Prius hybrid car in northeastern China's Changchun city with FAW Group. The company, building gas-electric cars outside Japan for the first time, will also license engine technology for FAW to make its own hybrids.
Toyota wants to boost its share of China's vehicle sales to 10% by 2010 from 3% now. Toyota officials declined to say how many units of the Prius they intend to produce with FAW.