Toyota Motor Corp. announced two deals in China last month that were small in size but large in strategic planning.
The automaker said it will establish a green-tech research institute with Tsinghua University and provide state-owned BAIC Group's Foton unit with fuel-cell technology for buses. But before it could feel comfortable unveiling those plans, Toyota put in months of work to pledge fresh investment — in the United States.
The technology transfers represent gestures of goodwill to Beijing by the leading Japanese automaker, which wants to "step on the accelerator in China" as CEO Akio Toyoda told an internal management group, according to the minutes of meetings on March 19 and April 23.