Hino to Team with Chinese Truck Maker

Hino Motors Ltd., the truckmaking unit of Toyota Motor Corp., will team with a Chinese manufacturer to make trucks and buses in China, Bloomberg reported.

Hino won approval from the Chinese government to partner with Guangzhou Automobile Group in a $400 million deal, Bloomberg said.

The move follows similar ventures by DaimlerChrysler and other overseas truck makers in expanding into China, where truck sales boomed in the fist seven months of this year, growing 27.5% over last year.

The venture will make 20,000 heavy-duty trucks, 30,000 light trucks and 4,000 buses a year, Bloomberg said.