Toyota is developing and making electric vehicles and EV batteries in China, the Japanese automaker said Wednesday, under a new partnership with the Shanghai government. Toyota Motor Corp. also announced it will start producing batteries for EVs,

Toyota Motor will establish a wholly owned company in Shanghai to develop and produce electric vehicles and batteries for the Lexus brand, with production set to start in 2027, the world's top-selling automaker said on Wednesday.

Toyota Motor (TM) is ramping up its electric vehicle (EV) and battery production efforts with new initiatives in both China and the U.S., following a surge in i