Tong Fang Global Logistics, a logistics management joint venture Toyota Motor Corporation established with China FAW Group Corporation and Guangzhou Automobile Group in July, has begun operations in the Tianjin Economic and Technological Development Zone.
This is the first joint venture among FAW, Guangzhou Automobile and TMC.
TFGL aims to increase efficiency and reduce costs by consolidating logistics operations, which, until now, were handled by each Toyota affiliate in China contracting individually with logistics companies.
TFGL will also combine the logistics know-how cultivated separately thus far by FAW, Guangzhou Automobile and TMC and will undertake planning, computer-network-based logistics management and logistics consulting to help improve the quality of logistics at local distribution companies.
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By GlobalData