Toyota rewires China JV as GAC takes control of FAW Toyota stake

Toyota is restructuring its China joint venture structure as the country's EV market strengthens, with GAC taking control of the FAW Toyota stake. Financial terms of the deal were not disclosed.

• Toyota reshapes China JV structure amid EV market growth
• GAC takes control of the FAW Toyota stake
• Move follows push for smarter vehicles and electrification
• Financial terms of the deal were not disclosed