Tokyo, Nov 15, 2013 - (JCN Newswire) - Toyota Motor Corporation announces that Toyota, Changshu Sinogy Venture Capital Co., Primearth EV Energy Co., Ltd. and Toyota Motor (China) Investment Co., Ltd. established on November 12 a hybrid-vehicle-battery production joint venture, Sinogy Toyota Automotive Energy System Co., Ltd. (STAES), based in Changshu,
Jiangsu Province, China.
The establishment is part of Toyota's commitment to further developing environmental
technologies such as hybrid systems as it aims to create ever-better cars that meet the needs of Chinese consumers.
Toyota, working primarily through Toyota Motor Engineering & Manufacturing (China) Co., Ltd. (TMEC), is currently developing a hybrid system to be manufactured in China with the aim of equipping the system on a vehicle to be launched in China in approximately 2015. Plans call for STAES to assemble the batteries that are key components of the hybrid system under development by TMEC.
STAES will construct facilities and install equipment for battery assembly with an aim to begin operations in 2015.
About Toyota
Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of March 2012, Toyota conducts its business worldwide with 50 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 160 countries and regions. For more information, please visit www.toyota-global.com.
Source: Toyota
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Toyota Motor Corporation
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