SHERIDAN, WYOMING – Dec. 29, 2024 – FAW Group Corporation, a leading global automotive manufacturer, has strengthened its partnership with Toyota Motor (China) through a significant auto parts import agreement. The memorandum of understanding (MoU) was signed at the seventh China International Import Expo (CIIE) in Shanghai.
Expanding Collaboration for Enhanced Customer Experience
Under the terms of the MoU, FAW Toyota will commence importing CKD (completely knocked down) parts from Toyota Motor (China) in 2025. This strategic move aims to leverage the strengths of both companies to provide users with a higher quality travel experience.
Commitment to Sustainable Development
The collaboration between FAW Group and Toyota Motor (China) extends beyond business goals. Both companies are committed to contributing to the sustainable development of society and the Chinese automotive industry.
A History of Automotive Excellence
FAW Group, established in 1953, holds the distinction of being China's oldest and largest automotive group. With annual sales exceeding three million units, FAW is recognized as a global leader in the production of passenger cars, trucks, and buses.
About FAW Group
- Global leader: FAW is a leading global manufacturer of quality passenger cars, trucks, and buses.
- Established in 1953: FAW is China’s oldest and largest automotive group.
- Annual sales exceed three million units: FAW is a major player in the global automotive market.
About Toyota Motor (China)
- Collaboration with FAW: Toyota Motor (China) has a strong partnership with FAW Group.
- CKD parts import: Toyota Motor (China) will begin importing CKD parts to FAW Toyota in 2025.