Toyota expands electric vehicle investments in China and the U.S

Wednesday 05 February 2025 - 13:37

Toyota, the Japanese automaker, has announced a strategic partnership with the city of Shanghai to enhance the development and production of electric vehicles (EVs) and batteries in China. As part of this collaboration, a new company will be established in Shanghai’s Jinshan district, with plans to start producing Lexus electric models by 2027.

This project is expected to achieve an initial production capacity of 100,000 vehicles annually and create around 1,000 jobs. The initiative aims to meet the growing demand in the Chinese market while supporting China’s goal of achieving carbon neutrality by 2060.

In addition to its expansion in China, Toyota revealed plans to begin battery production for electric, hybrid, and plug-in hybrid vehicles at a newly constructed $14 billion facility in North Carolina, USA. Deliveries for North American models are scheduled to commence in April, with the new plant projected to generate approximately 5,000 jobs.

These efforts reflect Toyota’s renewed push into the EV sector, addressing past criticisms regarding its slow adaptation compared to competitors in the electric vehicle industry.