On August 29, 2002, FAW Group Corporation and Toyota Motor Corporation signed a significant agreement in Beijing at the Great Hall of the People, to establish a strategic and long-term cooperative relationship for joint cooperation. Thereafter, the two parties commenced a wide scope of joint activities including wide-scale production of Toyota products in China and related transfers of technology.
Adhering to the original aspiration of “producing better cars”, FAW Toyota has become the backbone of China’s passenger car enterprises after 20 years of development. We have made our due contributions to the new era of rapid development with practical actions.
In 2020, FAW Toyota fully completed the asset integration and institutional restructuring. At present, it has three vehicle production bases, two engine production bases, a R&D center, a sales company and a logistics company. It has 12 business departments located in Tianjin, Chengdu, Changchun and Beijing, forming an integrated layout of production, marketing and research, and significantly improving the overall operating efficiency.
Over the years, FAW Toyota has perfectly integrated Toyota's advanced production mode with FAW's excellent management concept, and has launched VIOS, COROLLA, REIZ, ALLION, AVALON, CROWN, IZOA, RAV4, PRADO, LAND CRUISER, COASTER and other automotive products with global excellent quality.
In the evaluation of J.D. POWER, China Quality Association, C-NCAP, Toyota Global Services and other authoritative organizations, FAW Toyota's brands and models have experienced tests and won many honors. By the end of 2020, FAW Toyota had won the trust of nearly 8.5 million users and families, and the accumulated sales revenue had reached 1.2 trillion yuan.
In terms of social responsibility, FAW Toyota actively carried out social contribution activities of mutual trust and common development with various stakeholders, continued to make efforts in "traffic safety", "talent cultivation", "environmental protection", "social assistance" and other fields, with a total investment of nearly 100 million yuan in more than 20 public welfare projects. The number of direct participants has reached 1.1 million, and the number of indirect participants has exceeded 120 million. Thanks to these efforts, FAW Toyota has become a trusted excellent corporate citizen.
Looking forward, FAW Toyota will join hands with more partners, and take the five strategies of "TNGA, NEV (new energy vehicle), ICV (Intelligent-connected vehicle), Mobility Services, and System Restructuring, continue to expand the scale, improve revenue, promote product lineup adjustment, advance industrial transformation and upgrading, and enhance employees' sense of happiness, and strive to become a joint venture recognized by Chinese market and favored by Chinese users.