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Toyota Motor Corp.’s Chinese auto financing unit was fined for commercial bribery for giving rebates to dealers who steered loan business its way, Xinhua News Agency said, citing a local government agency.Toyota Motor Finance (China) Co. was charging annual interest of 10 percent to 13 percent on loans, compared with 7 percent at China’s major state-owned banks

Brilliance Auto broke ground yesterday on its new specialist vehicle factory in Shenyang, capital of Liaoning Province, China. Moreover, the automaker plans to establish a joint venture with Toyota Motor based on the new plant at the end of this year.