Business News Toyota | Page 14

Toyota

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Motorsport GmbH, with and headquarters in Cologne, Germany) was previously responsible for Toyota's major motorsports development including Formula One. Toyota Motorsport GmbH also developed cars for World Rally Championship and Le Mans Series. Toyota enjoyed success in all these motorsports categories. In 2002, Toyota entered Formula One as a constructor and engine supplier, however despite having experienced drivers and a larger budget than many other teams, they failed to match their success in other categories, with five second places their best results. On 4 November 2009 Toyota announced they were pulling out of the sport due to the global economic situation.



TRD

Toyota Racing Development was brought about to help develop true high performance racing parts for many Toyota

vehicles. TRD has often had much success with their after market tuning parts, as well as designing technology for vehicles used in all forms of racing.TRD is also responsible for Toyota's involvement in NASCAR motorsports.



Non-automotive activities



Aerospace

Toyota is a minority shareholder in Mitsubishi Aircraft Corporation, having invested US$67.2 million in the new venture which will produce the Mitsubishi Regional Jet, slated for first deliveries in 2013. Toyota has also studied participation in the general aviation market and contracted with Scaled Composites to produce a proof-of-concept aircraft, the TAA-1 in 2002.



Philanthropy

Toyota is supporter of the Toyota Family Literacy Programme along with National Center for Family Literacy, helping low-income community members for education, United Negro College Fund (40 annual scholarships), National Underground Railroad Freedom Center ($1 million) among others. Toyota created the Toyota USA Foundation.



Higher education

Toyota established the Toyota Technological Institute in 1981, as Sakichi Toyoda had planned to establish a university