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Toyota has been operating joint ventures FAW Toyota and GAC Toyota in China. The predecessor of FAW Toyota was established in 2000, and GAC Toyota was established in 2004. We will review our nearly quarter-century-old joint venture in China.
Toyota Motor Corporation announced on the 8th that it has entered into a new three-company strategic partnership agreement with two major state-owned automobile companies that are conducting joint ventures in China. Toyota operates joint ventures with China FAW Motor Corporation and Guangzhou Automobile Group, but will reorganize its investment structure. The company will further advance the electrification and intelligence of automobiles to strengthen its competitiveness in the Chinese market.
Major automakers report 4.1% drop in global production in August due to slump in China and earthquake
Toyota has been operating joint ventures FAW Toyota and GAC Toyota in China. In this reorganization, Guangzhou Automobile plans to acquire 50% of the FAW Toyota shares held by FAW. Both joint ventures will be under the umbrella of Guangzhou Automobile, and will strengthen collaboration in research and development, procurement, production, and sales.
The predecessor of FAW Toyota was established in 2000, and GAC Toyota was established in 2004. The company will review its nearly quarter-century-old joint venture in China and improve its cost competitiveness. The signing ceremony for the new agreement was held in Guangzhou, China on the 8th, with Toyota President Kenta Chika in attendance.

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