FAW and Toyota restructure their businessesApril 27, 2020
China FAW Group Co and Toyota Motor Corporation will restructure their management systems to achieve sustainable growth in China.
As part of the restructuring of Tianjin FAW Toyota Motor Co., Ltd. (TFTM) will become the main branch of FAW-Toyota, while all other branches for the production of bodies and engines will become subsidiaries of TFTM. In particular, the restructuring will affect subsidiary bodybuilding companies SFTM Chengdu and SFTM Changchun, and engine branches – FAW Toyota Engine and FAW Toyota Changchun Engine.
The goal of the restructuring is to better respond to China’s rapidly changing markets. By centralizing the management of production branches within the framework of TFTM, you can optimize the entire production system, the press service of Toyota. This will lead to a more efficient use of resources and increase the efficiency of operations, which, in turn, will lead to increased competitiveness.
“With the support of the Chinese government, our FAW partner, and our Chinese customers, the FAW-Toyota business will celebrate its 20th anniversary next year. After discussions with the FAW, we decided to reorganize our management systems in order to achieve sustainable growth for FAW-Toyota, ”the press release said.
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