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GAC plans share issue to acquire FAW's 50% stake in Toyota JV
GAC plans to acquire FAW Group’s 50% stake in FAW Toyota, bringing Toyota’s northern and southern China joint ventures under GAC’s umbrella and enabling coordination of operations, investment and resources. The proposed restructuring would make FAW GAC’s second-largest shareholder and reflects mounting pressure to consolidate China’s highly competitive auto industry.
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About FAW Group
China FAW Group Corp., Ltd. is a Chinese central state-owned automobile manufacturer headquartered in Changchun, Jilin. Founded on 15 July 1953, it is currently the second largest of the "Big Four" state-owned car manufacturers of China, together with SAIC Motor, Dongfeng Motor Corporation and Changan Automobile.
Everything about FAW Group →- Country
- People's Republic of China
- Headquarters
- Changchun
- Inception
- July 15, 1953
- Website
- http://www.faw.com/