Hino, Guangzhou Auto starts truck-making joint venture

Shanghai. December 19 (Gasgoo.com) – Japanese truck-maker Hino Motors and China's Guangzhou Automobile Group announced Tuesday they formed a joint venture in Guangzhou, according to a Reuters report yesterday.

Earlier in the year, the USD $200 million joint venture has won Chinese authorities approval to produce commercial vehicles, including trucks and buses, the report said.

Hino, the truck unit of Toyota Motor Corp and Guangzhou Auto Group will each hold 50 percent stakes of the joint venture, which is scheduled to start production at mid-2009.

The establishment was based on reorganization of Guangzhou Yangcheng Automobile Co., Ltd. and Shenyang Shenfei Hino Automobile Manufacturing Co., (a company invested in by Hino). Guangqi Hino continues to produce Yangcheng Automobile’s existing products at its present factory, Hino announced on its official website.