Toyota forms partnership on carbon neutrality with Shanghai

Toyota has announced a comprehensive partnership agreement with the Shanghai municipal government in China with regards to carbon neutrality.

With this collaboration, the former will establish a new wholly-owned company in Jinshan District in Southwest Shanghai for the development and production of BEVs and batteries. This is in line with the brand's belief that quicker supply of products that meet customers' needs is important in China, where there is a high demand for new energy vehicles.

In addition, the newly formed company will develop a new battery-electric vehicle (BEV) under the Lexus brand, with production scheduled to begin from 2027 onwards. The initial capacity will be around 100,000 units per year, and approximately 1,000 new jobs are planned for the start-up phase.

Toyota also hopes to contribute to the Chinese government's goal of achieving carbon neutrality by 2060 in fields such as hydrogen energy, automated driving technology, and battery recycling and reuse.