GAC acquires 50 per cent of FAW Toyota

T2Covered by 1 source · first reported by electrive / Charged EVs / The Autopian / Sustainable Bus at 17 Oct, 10:00 UTC

The Guangzhou Automobile Group (GAC) will take over the 50 percent stake in FAW Toyota currently held by FAW. The deal, which leaked about two weeks ago, has now been confirmed by all parties. Importantly, FAW Toyota is to continue operating as an independent company—for the time being, at least.

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Sources

• T2GAC acquires 50 per cent of FAW Toyotaelectrive / Charged EVs / The Autopian / Sustainable Bus17 Oct, 10:00