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On October 8th, China FAW Group, Toyota Motor Corporation, and Guangzhou Automobile Group entered into a fresh strategic cooperation framework agreement. As per the agreement's terms, Guangzhou Automobile Group intends to issue shares to acquire the 50% equity stake in FAW Toyota currently held by China FAW Group. Following the completion of this transaction, FAW Toyota will persist in its independent operation, while China FAW Group will emerge as a significant strategic shareholder of Guangzhou Automobile Group. Looking ahead, FAW Toyota and GAC Toyota are set to collaborate closely on key functions, including research and development, procurement, production, and sales. This strategic partnership not only deepens the existing collaboration between China FAW Group and Guangzhou Automobile Group but also strengthens the enduring alliance among the three entities.
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