Toyota Teams Up with Shanghai to Drive Green, Low-Carbon Future with New EV Production Hub

The new company will leverage Shanghai’s and the Yangtze River Delta region’s advanced and mature industrial chain infrastructure, logistics networks, talent pool, and market scale to develop LEXUS-branded fully electric vehicle models, with production slated to begin in 2027.

l

source: OFweek

Toyota emphasized that since the introduction of the Toyota Crown into the Chinese market in 1964, it has worked closely with partners like FAW Group and GAC Group through joint ventures to provide reliable products and services to Chinese society and consumers. Going forward, Toyota remains committed to continuing this collaborative approach with all its partners. The cooperation with the Shanghai Municipal Government will extend across the Shanghai region and into the wider Yangtze River Delta, encompassing a variety of initiatives, including collaborations with upstream and downstream companies in the logistics network and industrial chains, as well as the application of advanced technologies in fields such as hydrogen energy, intelligent autonomous driving, and battery recycling. 

In the same announcement, Toyota also revealed its financial results for the third quarter of the fiscal year 2025 (April to December 2024). The report indicates that Toyota’s sales revenue for this period reached ¥35.67 trillion, marking a 4.9% increase year-over-year. However, operating profit declined by 13.2%, totaling ¥3.68 trillion, while net income rose by 3.9%, reaching ¥4.10 trillion. In total, Toyota and LEXUS brands sold 7.76 million vehicles during the first three quarters, representing a 2% decrease from the previous year. 

Looking ahead, Toyota expects revenue for fiscal year 2025 (April 2024 to March 2025) to increase by 4% to ¥47 trillion, with operating profit projected to decrease by 12% to ¥4.7 trillion and net income to decline by 8.6% to ¥4.52 trillion.

source: Lexus China