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GAC to acquire stake in an FAW (Toyota) joint venture
Guangzhou Automobile Group Company (GAC) has announced that it has signed a letter of intent with FAW Group to acquire part of its stake in an as-yet unnamed joint venture with a foreign automaker, believed to be Japan's Toyota Motor…
Summary
Guangzhou Automobile Group Company (GAC) has announced that it has signed a letter of intent with FAW Group to acquire part of its stake in an as-yet unnamed joint venture with a foreign automaker, believed to be Japan's Toyota Motor Corporation. If completed, the move would represent a significant restructuring within China's state-owned automotive industry.
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