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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 GAC Group
Guangzhou Automobile Group Co., Ltd. is a Chinese state-owned automobile manufacturer headquartered in Guangzhou, Guangdong. As of 2021, it was the fifth largest automobile manufacturer in China, with 2.144 million sales in 2021.
Everything about GAC Group →- Country
- People's Republic of China
- Headquarters
- Guangzhou
- Inception
- June 1997
- Website
- https://www.gac.com.cn/