|By JCN Newswire||
|August 9, 2013 04:10 AM EDT||
Ltd (FTRD), a joint-venture R&D company between TMC and China FAW Group Corporation (FAW), held a ground-breaking ceremony here today at the site for its new facility in the Western Zone of the Tianjin Economic-Technological Development Area (TEDA).
Attendees at the groundbreaking ceremony included visitors from the municipal government and the media, FAW Vice President Jin Yi, and TMC Senior Managing Officers Tadashi Yamashina and Hiroji Onishi. At the ceremony, Onishi said:
"FTRD is an extremely important base for future business development in China as we aim to create ever-better cars that meet the needs of Chinese consumers".
In November 2012, the technology departments of Tianjin FAW Toyota Motor Co., Ltd. (TFTM) and Sichuan FAW Toyota Motor Co., Ltd. (SFTM) were spun-off to create FTRD, a company aimed at enhancing the R&D of TMC and FAW's joint venture activities.
FTRD began operations inside the premises of TFTM's TEDA Plant in May. FTRD will move to the new 110,000-m2 site in 2015, when the design building, laboratory building and other major facilities are scheduled for completion. FTRD is a base
for vehicle-body development in China and carries out development of cars for the Chinese market-including for the "Ranz" brand, an original TMC-FAW joint venture brand.
Overview of FAW Toyota Research & Development Co., Ltd (FTRD)
Location: Currently located on the premises of the TFTM TEDA Plant. Will be moved to a new site in the Western Zone of TEDA (15 kilometers west of the TFTM TEDA Plant) in May 2015. Representatives: Chairman Xu Jianyi (FAW chairman) President Masanobu Kawase (TMC executive advisor) Establishment: November 28, 2012 Start of operations: May 1, 2013 Investment: 1.27 billion yuan Capital: 800 million yuan Equity participation Tianjin FAW Toyota Motor Co., Ltd.: 80%; Sichuan FAW Toyota Motor Co., Ltd.: 20% Main businesses: Independent development of vehicles manufactured and sold by Toyota and FAW joint-venture companies; R&D for independent joint brand vehicles; tasks related to production localization and certification Employees: Approx. 300
Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of March 2012, Toyota conducts its business worldwide with 50 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 160 countries and regions. For more information, please visit www.toyota-global.com.
Toyota Motor Corporation Public Affairs Division Global Communications Department Tel: +81-3-3817-9926
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