Toyota: partnership with Shanghai for carbon neutrality

(CercleFinance.com) - Toyota announces the signing of a partnership with the Shanghai municipality to support China's goal of carbon neutrality by 2060.


The company will set up a subsidiary in Jinshan to develop and produce battery electric vehicles (BEVs) and batteries.

A new BEV under the Lexus brand will be launched, with production planned from 2027 and an initial capacity of 100,000 units per year, creating around 1,000 jobs.

Toyota says it will continue to work with local partners to strengthen its presence in China.

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