Toyota is top-tier sponsor for Olympic Games through 2024

Article by Christian A., 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.

If you liked the article, share on:

Topics: toyota, sponsorship

Comments

Recommended

We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 2017
The other day, it was confirmed that Volvo will finally bring the XC40 to US soil, where it will first make an appearance at the 2017 Los Angeles Auto Show....
by - November 23, 2017
There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
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