When Toyota decides to go to the Olympics, it decides to go the Olympics! Friday, the world’s largest automaker inked a record deal as a global Olympics sponsor through 2024. Toyota is the third Japanese company to become a worldwide sponsor, following in the steps of Panasonic and Bridgestone. It joins as a sponsor in the new “mobility” category.
It’s a big deal for Toyota since the 2020 Olympic Games will take place in Tokyo, Toyota’s home turf. The sponsorship deal will give the automaker a chance to show off its vehicles and new technologies like its Mirai fuel cell vehicle in a big way. The deal is reportedly worth nearly $1 billion, and Toyota becomes the first car company to join the IOC’s top-tier marketing program.
Commenting on the sponsorship in a press release on its website, Toyota said: “We will do everything possible to fulfill our new role in The Olympic Partner program, and justify the trust the IOC has placed in us. The addition of a mobility category to the TOP Partner field is an important recognition for our entire industry. Under this Olympic flag, let us today reaffirm the power of sports to bring people together. And let us dedicate ourselves to creating a better world by promoting sports in the Olympic spirit of friendship, solidarity, and fair play.”
IOC President Thomas Bach called it a symbolic day, saying: “The IOC welcomes Toyota as a key partner for the provision of sustainable mobility solutions for the Olympic Games as outlined in Olympic Agenda 2020, our strategic roadmap for the future of the Olympic Movement. Toyota is the world leader in its field, and this partnership signifies a strong commitment to the future of the IOC and the Olympic Movement. This is a milestone agreement in the implementation of Olympic Agenda 2020 because the focus of our cooperation is sustainable mobility, and Toyota will provide sustainable solutions for the entire Olympic Movement.”
The sponsorship deal covers the mobility category. What the means its that Toyota will sponsor all types of vehicles, as well as road and safety mobility services and systems, in addition to certain transportation and mobility support products. Toyota’s sponsorship rights begin immediately in Japan, and extend world-wide from 2017 through 2024.
“This agreement is a powerful indication of the strength of the Olympic brand globally and the appeal of an association with the Olympic movement,” said IOC marketing commission chairman Tsunekazu Takeda, who is president of the Japanese Olympic body and vice president of Tokyo’s organizing committee.
Other top-tier IOC global sponsors include McDonald’s and Coca-Cola.
Photo Credit: Toyota