Toyota plans to spend US$586 million to set up its seventh factory in China, AP reported. The new facility will be located in Changchun, capital of Jilin province, and will produce 100,000 Corolla sedans a year, the company said. The new plant will be a 50-50 joint venture with Chinese partner FAW Group. Toyota did not say when the factory would begin production. Toyota’s sales in China jumped 24% year-on-year from January to September, to 429,000 units. In 2007 Toyota sold 499,000 vehicles in China.
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