FAW, Toyota, and GAC Sign Tripartite Strategic Alliance Framework Agreement

FAW, Toyota, and GAC signed a tripartite strategic alliance framework agreement today. Following joint consultations, GAC will acquire the 50% stake in FAW Toyota held by FAW through a stock issuance. Upon completion of the transaction, FAW Toyota will continue to operate as an independent entity, while FAW will become a major strategic shareholder of GAC. In the next phase, FAW Toyota and GAC Toyota will form an alliance collaboration on functions such as R&D, procurement, production, and sales.