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Toyota set up logistics management joint venture in China
POSTED: 9:14 a.m. EDT, October 15,2007
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TOYOTA Motor Corporation has set up a joint venture with Chinese automobile manufacturer FAW Group Corporation and Guangzhou Automobile Group to manage its logistics operations in China.
The company, named Tong Fang Global Logistics, has already started operation and will also offer consultancy service to logistics providers. The three parties invested a total of US$5 million. Toyota accounts for 40 per cent of the investment, FAW invested 35 per cent and Guangzhou Automobile 25 per cent.
Since Toyota outsourced logistics operations in China, the carmaker wants to set up a company to manage these operations in a bid to enhance efficiency and lower cost.
Statistics show the port handled 8.57 tons per second at the current stage.
Qingdao's throughput growth has been helped by the co-operation between the port and its two neighbours including Weihai and Rizhao harbours.
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