Toyota is top-tier sponsor for Olympic Games through 2024

Article by Christian Andrei, on March 17, 2015

Toyota Motor Corp. is now a sponsor of the Olympic Games, the biggest amateur sporting event in the world. The sponsorship deal, announced by Toyota President Akio Toyoda and International Olympic Committee President Thomas Bach, will cover 10 years through 2024, a period that also covers the 2020 Tokyo Olympics.

The Japanese carmaker will be sponsoring a new category of products that will be showcased at the Olympics -- vehicles, mobility services like road safety, and transportation services and mobility support products. Toyota will also be the exclusive provider of vehicles for any national and global Olympic activity. Toyota’s sponsorship takes effect immediately in Japan through 2016.

Then the sponsorship rights will then be extended globally in 2017 following the 2016 Summer Olympics in Rio de Janeiro, Brazil. Japanese press reported that Toyota will shell out $835 million. Kyodo News reported in January the cost of becoming a top sponsor at the Tokyo Olympics might go as little as JPY15 billion ($123 million).

Toyota will be one of 11 companies granted with exclusive global marketing rights under The Olympic Partner, or TOP, program. Until after 2024, other carmakers can’t become TOP sponsors.

With the deal, Toyota will be the first carmaker becoming a top-tier Olympic sponsor and the third Japanese TOP partner, after Panasonic Corp. (1987) and Bridgestone Corp. (2014).

Other TOP sponsors include Coca Cola, General Electric, McDonald’s, Samsung, Visa and watchmaker Omega. According to Bach, the IOC added a new mobility sponsorship category, considering the logistical challenges facing the games. He remarked that traffic management and traffic is one of the major challenges at the Olympic games, and it is only logical that IOC is addressing this issue.

Toyota remarked that sports are a perfect platform for bringing people together and demonstrating Toyota’s technologies. “The impact of sports on our lives cannot be underestimated,” Toyoda quipped.

The deal will ensure that Toyota will get the dominant hand among Japanese carmaker during the Tokyo Olympics. It is expected that the Mirai fuel-cell sedan will be featured prominently in support roles as an Olympic vehicle.

Topics: toyota, sponsorship

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Hyundai is making the green vehicle race more competitive by offering three powertrain types -- pure electric (EV), hybrid (EV plus combustion engine) and plug-in hybrid (PHEV) – in one...
by - December 9, 2016
Although specs for the new Renault Megane had already surfaced several weeks ago, we didn’t know that the company has cooked up something new. Aside from the 200hp gasoline, Renault‘s...
by - December 9, 2016
For the first time in fifty-eight years, Infiniti registers its first US-Spec Q60 Coupe in Cuba. American products have not been allowed entry into Cuba for six decades. But it...
by - December 9, 2016
Chevrolet has already given out the pricing for some of its 2018 Equinox models. Not only will the new Equinox be available in both the US and Canada, it is...
by - December 9, 2016
Nearly all details have been set with regards to the upcoming market introduction of the new Jaguar I-Pace. Its production version was recently previewed at the 2016 Los Angeles Auto...
by - December 8, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries