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GAC and Toyota sign strategic cooperation framework agreement to deepen partnership in electrification and intelligent networking

Guangzhou Automobile Group Co., Ltd. and Toyota Motor Corporation signed a Strategic Cooperation Framework Agreement to deepen their partnership in the fields of electrification and intelligent networking.

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Chairman of Guangzhou Automobile Group Zeng Qinghong (left) and Toyota President Akio Toyoda (right)


Under the agreement, based on the basic concept that electric vehicles can only contribute to environmental protection when they are popularized, in addition to launching hybrid vehicles and plug-in rechargeable hybrid vehicles that Chinese consumers like, the partners will also strive to introduce high-quality and low-price pure electric vehicles, hydrogen fuel cell vehicles and other models to meet the diversified needs of Chinese consumers.

In addition, through this series of cooperation including the intelligent network connection field, the two sides will also realize resource sharing and talent exchange, so as to enhance the talent training ability and enterprise competitiveness of both parties.

In a filing with the Shanghai Stock Exchange, GAC said that Toyota will equip GAC and their joint venture’s car models with fuel cells.

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