Toyota Motor’s 50-50 joint venture with Tianjin Xiali, established in June 2000, said it is likely to sell its first passenger car in October 2002. Tianjin Automotive Xiali is likely to price the compact car at Yn150,000- 200,000, an industry source told Reuters. The US$100m company is a 50-50 joint venture between the two partners.
Another Japanese automaker, Mazda Motor, expects to start assembling its Familia passenger car in China this summer. Mazda, which is 33 per cent owned by Ford, will export parts from Japan for assembly at FAW Hainan Motor Co in Hainan province. Mazda hopes to sell 10,000 vehicles in China this year and double that quantity next year. It currently assembles Premacy minivans in Hainan.
Meanwhile, Honda Motor said it plans to make 20,000-30,000 subcompact cars in China next year. Honda already makes Accord sedans in China and will start making Odyssey minivans from this spring.