NAGOYA, Oct 28, 2008 (AsiaPulse via COMTEX) -- TM | Quote | Chart | News | PowerRating -- Toyota Motor Corp. (TSE:7203) said Monday that its Chinese joint venture will build a plant in Changchun, Jilin Province, that will be capable of manufacturing 100,000 Corollas a year.

The joint venture, Sichuan FAW Toyota Motor Co., held a groundbreaking ceremony at the construction site Monday. It plans to invest 4 billion yuan (US$583.8 million) in the factory, but other details, such as when the facility will start production, have yet to be decided.

Auto sales are slowing in China. Toyota set a goal of increasing Chinese sales by 40 per... // Trading Markets