The Germans have dismissed Asian automakers before…
China FAW Group Co., Ltd. (FAW) and Toyota Motor Corporation (Toyota) said today in Japan that they will restructure their management “with the aim of achieving sustainable growth in China.” AutoInformed thinks this really is a giant step toward eliminating Germany luxury car makers as the brands of choice in the Chinese market with a Chinese brand designing and building electric, sports and luxury cars. AutoInformed notes that the chase is from behind; We also note that the Germans for years dismissed what became a global luxury powerhouse – a Toyota division called Lexus.
A piece of the blueprint was first reported last Friday by state media CCTV and Xinhua. FAW confirmed the CCTV report to Reuters. Silk EV on Monday told Reuters it has signed a memorandum of understanding with FAW to launch a joint venture in the state-owned automaker’s hometown of Changchun in northern China, to make vehicles it has dubbed the S-series.
As part of the restructuring announced today, Tianjin FAW Toyota Motor Co., Ltd. (TFTM) will become a FAW-Toyota manufacturing and supervising affiliate; all other body and engine manufacturing affiliates will become wholly owned subsidiaries of TFTM.
“By centralizing management of manufacturing affiliates under TFTM, the entire order cialis au production system can be optimized; this will result in a more effective use of resources and more efficient operations and this, in turn, is expected to lead to improved competitiveness. The restructuring is also intended to clarify reporting lines, thereby strengthening governance and accelerating decision-making processes at all its affiliates.” an English translation of the announcement said.
Tatsuro Ueda, Chief Executive Officer of Toyota’s China Region, said: “Thanks to the support of the Chinese government, our partner FAW, and our Chinese customers, the FAW-Toyota business will next year celebrate its 20th anniversary. After discussions with FAW, we decided to reorganize our management systems with the goal of achieving lasting growth for FAW-Toyota.”
As part of this restructuring, FAW Toyota Research & Development Co., Ltd. (FTRD), FAW-Toyota’s research and development company, will also become a wholly owned subsidiary of TFTM. There is no change in the ownership of FAW Toyota Motor Sales Co., Ltd., FAW-Toyota’s sales company.
“In practice, however, its management will report to TFTM, and by unifying its management, it will seek to realize a single streamlined structure from development through production to sales. Going forward, all Toyota enterprises in China will work together to make cars that provide its Chinese customers with happiness,” the announcement included.
Toyota and FAW Restructure Their Joint Company Management
The Germans have dismissed Asian automakers before…
China FAW Group Co., Ltd. (FAW) and Toyota Motor Corporation (Toyota) said today in Japan that they will restructure their management “with the aim of achieving sustainable growth in China.” AutoInformed thinks this really is a giant step toward eliminating Germany luxury car makers as the brands of choice in the Chinese market with a Chinese brand designing and building electric, sports and luxury cars. AutoInformed notes that the chase is from behind; We also note that the Germans for years dismissed what became a global luxury powerhouse – a Toyota division called Lexus.
A piece of the blueprint was first reported last Friday by state media CCTV and Xinhua. FAW confirmed the CCTV report to Reuters. Silk EV on Monday told Reuters it has signed a memorandum of understanding with FAW to launch a joint venture in the state-owned automaker’s hometown of Changchun in northern China, to make vehicles it has dubbed the S-series.
As part of the restructuring announced today, Tianjin FAW Toyota Motor Co., Ltd. (TFTM) will become a FAW-Toyota manufacturing and supervising affiliate; all other body and engine manufacturing affiliates will become wholly owned subsidiaries of TFTM.
“By centralizing management of manufacturing affiliates under TFTM, the entire order cialis au production system can be optimized; this will result in a more effective use of resources and more efficient operations and this, in turn, is expected to lead to improved competitiveness. The restructuring is also intended to clarify reporting lines, thereby strengthening governance and accelerating decision-making processes at all its affiliates.” an English translation of the announcement said.
Tatsuro Ueda, Chief Executive Officer of Toyota’s China Region, said: “Thanks to the support of the Chinese government, our partner FAW, and our Chinese customers, the FAW-Toyota business will next year celebrate its 20th anniversary. After discussions with FAW, we decided to reorganize our management systems with the goal of achieving lasting growth for FAW-Toyota.”
As part of this restructuring, FAW Toyota Research & Development Co., Ltd. (FTRD), FAW-Toyota’s research and development company, will also become a wholly owned subsidiary of TFTM. There is no change in the ownership of FAW Toyota Motor Sales Co., Ltd., FAW-Toyota’s sales company.
“In practice, however, its management will report to TFTM, and by unifying its management, it will seek to realize a single streamlined structure from development through production to sales. Going forward, all Toyota enterprises in China will work together to make cars that provide its Chinese customers with happiness,” the announcement included.