TTE meaning in Business ?

Answer:

What is Toyota Team Europe mean?

Toyota Gazoo Racing Europe GmbH (TGR-E), formerly Andersson Motorsport GmbH and Toyota Motorsport GmbH (TMG), is a fully-owned and controlled entity of Toyota Motor Corporation, based in Cologne, Germany, which provides motorsport and automotive services to fellow Toyota companies and to outside clients, employing around 350 people in a 30,000 m2 factory.

As of the 2020 season, TGR-E currently operates Toyota's FIA World Endurance Championship (WEC) factory team under the name Toyota Gazoo Racing, and develops and manufactures the engine for Toyota Gazoo Racing WRT. TGR-E's WEC team is not to be confused with the Finland-based World Rally Championship team, which is not operated by TGR-E.

Andersson Motorsport GmbH was responsible for Toyota's World Rally Championship cars starting from the 1970s until the 1990s. In addition, since 1994, TMG has developed a tuning business for Toyota road cars, offering complete vehicle service, tuning and sports accessories. However TMG is not to be confused with TRD (Toyota Racing Development) in the United States. As they are a separate entity and another department owned and controlled by Toyota Motor Corporation Japan which is taking care of the company's involvement in American motorsports, most popular one being NASCAR. TRD are also well known for designing and developing tuning & high-performance autoparts for a variety of Toyota-Lexus vehicles including road cars, sportscars and off-roading pickup trucks and SUV's. In 1999 the company stopped participating in rallying, in order to prepare for a switch to Formula One (F1) in 2002. From 2002 to 2009, TMG operated its company's Formula One team named Panasonic Toyota Racing, starting 139 Grands Prix. In that time, they finished on the podium 13 times, earned three pole positions and scored a total of 278.5 points. TMG also provided their Toyota F1 engines to the Jordan Formula One Team in 2005, which was then sold out and was renamed as Midland F1 Racing in 2006, but continued using Toyota F1 engines until their withdrawal from F1 at the end of 2006, Williams Formula One Team were also TMG's customers for their Toyota F1 engines from 2007 to 2009. On 4 November 2009, Toyota announced their withdrawal from F1.

In the meantime, it entered sports car racing and the 24 Hours of Le Mans: in 1998 and 1999, finishing 2nd in 1999 with their Toyota GT-One. TMG has moved back into sports car racing as an exclusive engine supplier from 2011 onwards to Lola Cars, powering Rebellion Racing. In 2012 TMG fully returned to sports car competition with the Toyota TS030 Hybrid.

In addition to its motorsport activities, Toyota Motorsport also undertakes production vehicle analysis and development on behalf of Toyota, providing "highly skilled and rapidly reacting engineering" services. A range of modified Toyota-Lexus road cars is also available from the Cologne factory.

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