Toyota Announces EV Push In China And U.S.
Toyota Motor Corporation is partnering with the Shanghai municipal administration to advance carbon neutrality in China. The collaboration includes establishing a new Toyota subsidiary in Shanghai's Jinshan District, dedicated to developing and producing battery electric vehicles (BEVs) and batteries.
This partnership aligns with China's goal of achieving carbon neutrality by 2060. Toyota's efforts will concentrate on key areas such as hydrogen energy, automated driving technologies, and battery recycling and reuse.
In response to the rising demand for alternative energy vehicles in China, the giant carmaker aims to accelerate the introduction of innovative products tailored to the Chinese market.
The newly formed company will lead the development of a new Lexus-branded BEV, with manufacturing scheduled to begin in 2027. The initial manufacturing capacity is expected to be around 100,000 units per year, with approximately 1,000 new employment created during the start-up phase.
The company’s move also coincides with growing concerns in Asia about a possible trade war that may break out after President Donald Trump levied tariffs on Chinese imports, to which China responded with penalties that would go into force the following week.
Toyota is also investing $1.4 billion in a North Carolina battery factory to produce batteries for electric, hybrid, and plug-in vehicles, starting in April. This move addresses criticism of Toyota's slow adoption of electric vehicles, especially in the rapidly expanding Chinese market and growing global sustainability concerns.
Additionally, the company announced on Wednesday that its fiscal third quarter earnings increased 61% from the previous fiscal year to 2.19 trillion yen, on sales of 12.4 trillion yen, which was 3% higher than the previous year. After some production was halted due to a certification issue in Japan earlier this fiscal year, Toyota authorities reported that sales were rebounding.
The Japan automaker admitted to extensive fraudulent testing last year, which included testing airbag inflation and engine power checks improperly and using old or insufficient data in crash tests. The misconduct solely had an impact on Japanese production and had no effect on the vehicles' safety.
According to Toyota, the new business in China is a part of its efforts to meet the country's increasing demand for EVs. Toyota already has China FAW Group Co. and Guangzhou Automobile Group Co. as its longtime partners in China, and those will continue unchanged, the automaker added.
Written By
Anis
Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........
JPJ Running Numbers
KUALA LUMPUR
VPJ4305
SELANGOR
BSF9814
JOHOR
JYC6421
PULAU PINANG
PRS1815
PERAK
ANX4067
PAHANG
CFC4564
KEDAH
KGB2651
NEGERI SEMBILAN
NEG4017
KOTA KINABALU
SJL5744
KUCHING
QAB6348L
Last updated 05 Jul, 2025
Fuel Price
Petrol
RON 95
RM 2.05
RON 97
RM 3.18
-0.03
RON 100
RM 5.00
VPR
RM 6.23
Diesel
EURO 5 B10
RM 2.85
-0.03
EURO 5 B7
RM 3.05
-0.03
Last updated 03 Jul, 2025
Related News
Toyota Hilux GR Sport – Go-Anywhere Utility Meets Race-Inspired Thrills!
The Toyota Hilux GR Sport merges go-anywhere utility with race-inspired thrills and style almost perfectly.
27-06-2025
Toyota Land Cruiser 250 Gains New 48V MHEV Diesel Variant in Europe
The Toyota Land Cruiser Prado (250 Series) gains a new Hybrid 48V variant in Europe, featuring a mild hybrid diesel powertrain.
24-06-2025
Toyota GR LH2 Racing Concept Unveiled as a Hydrogen-Hybrid Le Mans Racer
Toyota has unveiled its second hydrogen-powered Le Mans hypercar concept, known as the Toyota GR LH2 Racing Concept.
14-06-2025
Toyota bZ5 Unveiled in China as a Sleek Electric Coupe Crossover
The all-new Toyota bZ5 EV breaks cover in China, featuring a sleek coupe crossover bodystyle.
11-06-2025
Updated Toyota Aygo X Gains Stylish GR Sport Guise in Europe
The GR Sport badge has just landed on an unexpected model in Europe, namely the updated Toyota Aygo X.
03-06-2025
Toyota Crown Sedan Gains Special 70th Anniversary Edition in Japan
Toyota celebrates the 70th anniversary of its iconic Crown nameplate by launching a special edition Crown Sedan.
23-05-2025
Sixth-Gen Toyota RAV4 Bows, Includes New PHEV and GR Sport Guises
Sixth-gen Toyota RAV4 crossover SUV bows, continues to see PHEV option available, new GR Sport guise added too.
21-05-2025
Facelifted Toyota bZ4X Gains New ‘Touring’ Variant in Europe
The facelifted Toyota bZ4X gains a new ‘Touring’ variant in Europe, featuring rugged and wagon-inspired design tweaks.
16-05-2025
Latest News
992.2 Porsche 911 Carrera 4S Debuts – More Power, 8-Speed PDK Only
The 992.2-gen Porsche 911 Carrera 4S breaks cover with more power and no stick-shift manual option.
03-07-2025
New MG4 Gets Semi-Solid Battery and OPPO Smart Travel Integration
New MG4 set to adopt next-gen semi-solid-state battery tech and seamless smartphone connectivity powered by OPPO.
03-07-2025
Mitsubishi Grandis Reborn as a Renault-Based SUV in Europe
The Mitsubishi Grandis returns as an SUV in Europe, featuring Renault underbones and hybrid-only powertrains.
03-07-2025
New Ferrari Amalfi Bows As 631 HP Successor to The Roma
New Ferrari Amalfi bows as successor to the utterly gorgeous Roma, and it boasts ‘accessible’ pace with 631 HP V8 heart.
03-07-2025
Next-Gen Mazda CX-5 Teased Ahead of July 10 Debut
Mazda has unveiled teaser images of the upcoming next-gen Mazda CX-5 ahead of its debut later on July 10.
02-07-2025
Ferrari 296 GT3 Evo Unveiled Ahead of 2026 Racing Debut
The all-new Ferrari 296 GT3 Evo has been unveiled as the Prancing Horse’s new GT3 contender for 2026 and onwards.
01-07-2025
Horse Technologies Unveils HR18 HEV Hybrid Powertrain
Horse Technologies launches first fully integrated hybrid powertrain called HR18 HEV, features new Atkinson-cycle engine and next-gen lithium-ion battery.
26-06-2025
Koenigsegg Sadair’s Spear Unveiled as Jesko’s Track-Focused Twin
The all-new Koenigsegg Sadair’s Spear is a limited-production, track-focused version of the Jesko hypercar.
26-06-2025
Show More
trending_flat