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Fuji Heavy: No Decision on Chinese Plant
Fuji Heavy Industries Ltd. denies a report by Kyodo News that the company has decided against building an assembly plant in China.
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Fuji Heavy Industries Ltd. denies a report by Kyodo News that the company has decided against building an assembly plant in China.
The news service says FHI may lower its target of selling 180,000 vehicles annually in China by the fiscal year ending in March 2016 and focus instead on boosting U.S. sales.
The maker of Subaru cars has not received the Chinese government's approval of its year-old application to produce vehicles in the northeastern city of Dalian with Chery Automobile Co.
Sources tell Bloomberg News that Beijing regards FHI as a subsidiary of Toyota Motor Co., which holds a 16% stake. Toyota already has two Chinese joint venture partners, the maximum allowed by Chinese regulations.
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