Toyota to build planes
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Japanese car maker Toyota looks set to make a foray into the aviation industry. The automotive giant is in final discussions regarding a 10 billion yen (US$96.7 million) investment in a passenger-jet project led by Mitsubishi Heavy Industries Ltd, the Asahi Shimbun reported.
Mitsubishi Heavy has been trying desperately to get further investment for the project, approaching existing airline manufacturers, trading houses, banks to participate. So the input of a multi-national giant such as Toyota will come as a huge lift, the report said.
Mitsubishi Heavy, the heavy machinery arm of Mitsubishi Corp has said it will start the project if it receives 100 advanced orders for jets. JAL, ANA as well as US and European carriers have all expressed an interest, the report said. The 70 and 90-seater next-generation passenger jets will be lighter and more fuel-efficient than normal passenger jets, with 30% of the fuselages being built from carbon fibre composites. If all goes to plan the jets plan to be ready for 2012, the newspaper said.
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