Is it true that GAC bought Toyota?

No, according to the announcement of GAC Toyota official website, the two companies started to cooperate from 2004 until 2024. Toyota is the largest automobile company in Japan, much bigger than GAC. Toyota has cooperation with FAW and GAC in China, and its models are different. GAC Toyota is a joint venture between Japanese Toyota and China GAC Group, with each party holding 50% of the shares. Its production and operation models include Camry, Highlander and yaris.