Dec. 11, 1987

TOYOTA AND GM FORM JOINT VENTURE IN AUSTRALIA

 

Toyota City―TOYOTA MOTOR CORPORATION (Toyota) and General Motors Corporation of the U.S. (GM) announced today that they have signed a Memorandum of Understanding on the establishment of a joint venture, product sharing of locally manufactured cars and the effective use of production facilities in Australia.

The new joint venture is being established in response to Australia's passenger motor vehicle manufacturing plan. Toyota and GM will cooperate as the largest auto manufacturing group in Australia, and produce high-quality, price-competitive vehicles for Australian consumers.

The joint venture, owned equally by Toyota and GM and scheduled for incorporation in the spring of 1988, will coordinate the overall management, including operations, manufacture, etc., of subsidiaries in the passenger car field: AMI Toyota Ltd. (AMI; Toyota subsidiary, manufacturing Corollas and Camrys), Toyota Manufacturing Australia Ltd. (TMA; Toyota subsidiary, producing engines for Toyota cars), and Holden's Motor Company Ltd.(GM subsidiary, manufacturing Commodores, etc.).

While details such as the name of the new company and its chief executive officer have not yet been decided, an equal number of directors will be assigned from Toyota and GM for its management. AMI and Holden's will share production of Corollas, Camrys, and Commodores, all of which will be marketed under the Toyota and Holden brand names. Current sales networks will remain unchanged; Toyota and Holden's imports will continue to be marketed separately.

Reference

  1. Major production plants under the new company
    AMI
    Port Melbourne plant (Victoria)
    TMA
    Altona plant (Victoria)
    Holden's
    Elizabeth facility (South Australia)
  2. Car models and their manufacturers
    Corolla
    AMI (Toyota brand)
    Holden's (Holden brand)
    Camry
    AMI (Toyota brand)
    Holden's (Holden brand)
    Commodore
    Holden's (Toyota brand)
    Holden's (Holden brand)
  3. Profiles of AMI, TMA and Holden's

    AMI Toyota Ltd.

    Location
    Port Melbourne, Melbourne, Victoria
    Managing Director
    Noboru Itaya
    Capital
    A$7.07 million (approx. ¥710 million)
    Start of Operation
    April 1963
    Business Outline
    Passenger car import, manufacture and sales
    Models imported
    Celica, Cressida, etc.
    Models assembled
    Camry, Corolla
    Number of Employees
    2,100 (as of the end of June)
    Site Area
    approx. 190,000m2

    Toyota Manufacturing Australia Ltd.

    Location
    Altona, Melbourne, Victoria
    Managing Director
    Takeshi Yamamoto
    Capital
    A$36 million (approx. ¥3.6 billion)
    Start of Operation
    October 1978
    Business Outline
    Manufacture of engines (S and A types) and stamped parts Number of Employees: 570 (as of the end of June)
    Site Area
    approx. 750,000m2

    Holden's Motor Company Ltd.

    Location
    Port Melbourne, Melbourne, Victoria
    Managing Director
    John G. Bagshaw
    Start of Operation
    1926
    Business Outline
    Vehicle import, manufacture and sales
    Number of Employees
    approx. 7,300 (as of the end of June) Site Area: approx. 3,000,000m2