On February 5, Toyota China announced that Toyota Motor Corporation (hereinafter referred to as "Toyota") has entered into a collaboration agreement with the Shanghai Municipal Government to jointly advance green and low-carbon development in China. As part of this initiative, Toyota has decided to set up a research and production facility for LEXUS pure electric vehicles and batteries in Jinshan District, Shanghai.

Leveraging the sophisticated industrial chain, extensive logistics network, robust talent system, and vast market size of Shanghai and the Yangtze River Delta region, the new company will focus on developing LEXUS-branded electric vehicle models, aiming to commence production in 2027.

Toyota emphasized that since introducing the Toyota Crown to the Chinese market in 1964, it has consistently provided reliable products and services to Chinese society and consumers through joint ventures and partnerships with companies like FAW and GAC Group. Moving forward, Toyota reaffirms its commitment to continue collaborating with all partners. The collaboration with the Shanghai Municipal Government encompasses various strategies, including the integration of advanced technologies into logistics networks, cooperation with upstream and downstream enterprises, hydrogen energy initiatives, intelligent autonomous driving technologies, battery recycling programs, and more. These efforts will be guided and supported by relevant departments, with a ripple effect extending from Shanghai to the Yangtze River Delta region and beyond.

On the same day, Toyota released its financial report for the third quarter of fiscal year 2025 (April to December 2024). The report revealed that for the quarter, Toyota's revenue amounted to 35.67 trillion yen, representing a 4.9% year-on-year increase; operating profit stood at 3.68 trillion yen, a 13.2% year-on-year decline; and net profit reached 4.10 trillion yen, marking a 3.9% year-on-year growth. In the first three quarters, Toyota and the Lexus brand collectively sold 7.76 million vehicles, a slight decrease of approximately 2% year-on-year.

Toyota projects that for fiscal year 2025 (April 2024 to March 2025), revenue will rise by 4% to 47 trillion yen, while operating profit will decrease by 12% to 4.7 trillion yen, and net profit will decrease by 8.6% to 4.52 trillion yen.