Toyota announced today that is has reached an agreement with the International Olympic Committee to join a top-tier group of global sponsors supporting the IOC. This is the first deal of it's kind for any car maker. It likely means that all athletes and guests at the Olympic Games will be transported to and from events in Toyota vehicles.
Toyota hopes to put its cars and technology on display when Japan hosts the 2020 Olympic summer games in Tokyo. This agreement ensures that Toyota products will prominently be displayed when the Olympics are in Toyota's home country.
Toyota joins other prominent sponsors such as McDonalds's and Coco-Cola. "usually when people talk about sponsorships, they are focused on how much it costs and shat the marketing merits are. But we decided to take on this deal because we want to pay back the society that has helped us grow as a company." Toyota President Akio Toyoda said. The dollar amount being spent on the sponsorship was not disclosed by Toyota.
Toyota said it's sponsorship rights will be extended world-wide from 2017 through 2027.
