Toyota set to challenge VW's dominance in China
REUTERS FRIDAY, AUGUST 30, 2002
SHANGHAI: Germany's Volkswagen faces a fierce challenge to its almost 20-year rule over China's auto market after Toyota Motor Corp announced plans to launch its first China-made car in October.
The new rivalry for Volkswagen, which sells one in two of the country's cars, comes after Toyota agreed on Thursday with China's top auto firm, FAW, to build 300,000 to 400,000 cars by 2010.
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