Ever since Toyota began making cars, it has made helping communities around the world a core part of its business, from supporting environmental and traffic safety projects to enriching people’s lives through education, skills and cultural initiatives, linked to its global manufacturing operations. Now its mission to develop mobility for all and to build “ever better cars” is being supported by the establishment of a new foundation to help fund the work of not-for-profit organisations, research bodies and other groups worldwide.
Under the provisional title of the Toyota Mobility Fund, the foundation is expected to offer total annual grants of between 3.0 and 4.5 billion yen (approximately £18 to £27 million). Registration of foundation is expected to be completed by the end of August this year and Akio Toyoda, Toyota President, will serve as its chairman.
The aim is to create shared values between Toyota and society by using Toyota’s core strengths to address a wide range of issues, from disparity in mobility in the world’s emerging nations, to the development next-generation mobility in advanced markets.
Grant applications will be invited later this year once a selection process has been put in place. Toyota Motor Corporation will provide the foundation with treasury shares, subject to shareholder approval at a general meeting to be held in June. The dividends from these shares will be used by the foundation as its operating capital.
The new mobility foundation will build on the achievements of the Toyota Foundation, which since 1974 has provided grants to help tackle a wide range of human, environmental welfare, education and cultural projects.