Hino Motors said on Wednesday that it is in the final stages of setting up a truck production business in China, Dow Jones reported.
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The establishment of a truck-making business for the Toyota Motor Corp. group company in the rapidly growing market will enable the Toyota group to offer a wide range of vehicles there, from small cars to trucks, the report added.
A Hino Motors spokesman declined to disclose details of the China truck business to Dow Jones, saying only that his company has already narrowed down its potential partners.
The news agency noted that Hino said in late September that it will set up a 50:50 joint venture in China with Shanghai Diesel Engine Co. to produce diesel engines for large trucks and that this venture will begin production in November 2004.
The spokesman told Dow Jones the venture may help supply diesel engines to the truck output operations.
Rival truck maker Mitsubishi Fuso Truck & Bus Corp., an arm of Mitsubishi Motors Corp. , is considering joining forces with Anhui Xingma Automobile Co. to boost its China production, Dow Jones added.
