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March 6, 2008 -- Toyota, widely expected to become the world's top selling car maker this year, said yesterday it is considering branching out into the aircraft industry.
The automaker may put up funds for a company to be set up by Mitsubishi Heavy Industries to design a next-generation, fuel-efficient passenger jet. Toyota was planning to invest ¥10 billion in the project that is due to start in April.
Mitsubishi Heavy Industries has a $1.5bn project to build Japan’s first passenger jet. It would seat 70 to 90 passengers and production would start in 2012, according to Reuters.
Source: AMT
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