New Toyota plant for Guangzhou

Beijing has cleared Guangzhou Automobile Industrial Group to proceed with negotiations with Toyota Motor over a proposed joint-venture car-making plant, Guangzhou city officials said. Officials said the RMB 3.7 billion plant, which would assemble Toyota's Camry, would be built in the new Nansha industrial zone. Plans call for an initial production run of 100,000 units a year. Guangqi Toyota Engine, another Toyota JV, will supply the plant with engines.