Lates News

On October 8, China FAW, Toyota Motor, and GAC Group signed a new strategic cooperation framework agreement. Through joint consultation among the three parties, GAC Group plans to acquire the 50% equity interest in FAW Toyota held by China FAW through the issuance of shares. After the transaction is completed, FAW Toyota will continue to exist as an independently operating entity, and China FAW will become an important strategic shareholder of GAC Group. In the next stage, FAW Toyota and GAC Toyota will jointly shoulder functions such as research and development, procurement, production, and sales for the joint venture. This cooperation is not only an important part of deepening cooperation between China FAW and GAC Group, but will also further consolidate the long-term cooperative relationship among China FAW, Toyota Motor, and GAC Group. (Yicai).