Nov. 14, 2013

Toyota Establishes Hybrid Battery Production JV in China


Toyota City, Japan, November 14, 2013―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.

Overview of Sinogy Toyota Automotive Energy System Co., Ltd. (STAES)

Location Changshu New and Hi-Tech Industrial Development Zone, Jiangsu Province, China
Representatives Chairman: Cao Fang (Changshu Sinogy Venture Capital Co.) President: Sadayuki Yamada (TMC)
Capital 9.75 million U.S. dollars
Investment 24.37 million U.S. dollars
Equity participation Changshu Sinogy Venture Capital Co.: 50% (4.875 million U.S. dollars)
Toyota Motor (China) Investment Co., Ltd. (TMCI): 5% (487,500 U.S. dollars)
Primearth EV Energy Co., Ltd.: 10% (975,000 U.S. dollars)
Toyota Motor Corporation: 35% (3.4125 million U.S. dollars)
Site area Approx. 16,000 square meters
Annual production capacity Approx. 110,000 units/year
Employees Approx. 70 (planned)
Establishment November 12, 2013