Toyota to Launch China-Only Brands in 2013

Toyota Motor Corp. intends to launch a new China-specific brand next year with each of its Chinese joint venture partners, says Hiroji Onishi, one of the company's senior managing officers.

Onishi did not disclose further details about those makes, which are being developed with FAW Group Corp. and Guangzhou Automobile Group Co.

Beijing has been pressing foreign automakers to introduce new local brands with their Chinese partners. Among the carmakers that have already debuted such marques are General Motors (Baojun) and Nissan (Venucia).