The joint announcement was made at NASCAR's R&D Center in Concord, North Carolina, by Brian France, NASCAR chairman and CEO, and by Dave Illingworth, senior VP and chief planning and administrative officer for Toyota Motor Sales, USA. Illingworth pointed out that 2007 would be a special year for Toyota - marking the company's 50th anniversary in the U.S., and its entry into "America's premier racing series."
The Camry will join Toyota's Tundra pickup in the NASCAR lineup. The company actually first competed in NASCAR in the now defunct Goody's Dash Series with the Celica back in 2000.
[Sources: Toyota Motorsports, NASCAR]