Kyodo News reports that Toyota’s first large stamping die production company in China has now begun operations.
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Toyota FAW (Tianjin) Dies Co., owned 90 percent by Toyota and the remainder by China FAW Group Corp., will first make stamping dies for three automobile models, with a plan calling for boosting production to accommodate six models a year in the future, it said.
The joint venture, capitalized at $12 million, is scheduled to supply stamping dies to Tianjin FAW Toyota Motor Co. and Tianjin Automotive Xiali Co., both of which are Toyota’s joint automobile ventures with Chinese firms, Kyodo reported.
