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FAW kicks off bus joint venture
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CHENGDU: The First Automotive Works Corp (FAW), China's No 1
automaker, yesterday officially launched a bus joint venture with a
local partner in the capital city of Southwest China's Sichuan
Province.
FAW controls an 80 per cent stake in the joint venture, named the
Chengdu China FAW Automobile Co Ltd. The rest is held by the Chengdu
Industry Investment and Management Co.
The launch of the joint venture is part of a co-operation deal
signed in August between FAW and Japan's largest carmaker, Toyota
Motor Corp.
Under the deal, FAW acquired 80 per cent of the Sichuan Station
Wagon Factory, the ...
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