Toyota is joining McDonalds and Coca-Cola at the top of the list. All three companies have signed deals with the International Olympic Committee lasting until 2024. With an Olympic theme of sustainability, Toyota is ready to hit home. Odds are the company plans to push its hydrogen fuel cell vehicle on the global stage.
The deal lasts from 2017 to 2024, and Toyota’s investing over four times your everyday eight-year sponsorship deal. Total investments run in at over $800 million. The automaker is looking to recreate their past success with the Red Carpet and Prius. This time, athletes will be transported in Toyota vehicles, and we expect the Mirai to make waves. Toyota’s grabbed quite the advantage too…
“From the beginning of 2017, Toyota is our exclusive worldwide partner for the mobility category,” said Thomas Bach, IOC president. “And exclusivity means no other partner can join the program and can support the national Olympic committees.”
This is absolutely huge. The deal effectively shuts Hyundai out on its own turf during the 2018 Pyeongchang Games. China will have no domestic sponsor if it wins the bid for the 2022 Games. Oh, and if Boston wins the 2024 Olympic bid, the United States car industry—General Motors, Chevrolet, Ford—won’t have any advertising rights.
Toyota’s Olympic deal certainly is money well spent.