Latest news with #LexusBEVs
Yahoo
11-03-2025
- Automotive
- Yahoo
EVgo Opens First Fast Charging Stations Deployed Through Toyota's "Empact" Vision
The companies collaborated on high-power DC fast charger deployment in key markets to increase public charging infrastructure LOS ANGELES, March 11, 2025--(BUSINESS WIRE)--EVgo Inc. (NASDAQ: EVGO) ("EVgo" or the "Company"), one of the nation's largest providers of public fast charging infrastructure for electric vehicles (EVs), and Toyota Motor North America, Inc. ("Toyota") today announced the opening of the first DC fast charging (DCFC) stations in Baldwin Park and Sacramento, California, built through Toyota's "Empact" vision. The new co-branded stations, owned and operated by EVgo, each serve up to eight vehicles simultaneously and exclusively feature 350kW fast chargers. "Availability of charging is essential as consumers consider buying or leasing an EV. As automakers offer more electric vehicle choices, EVgo will continue deploying fast chargers for current and prospective EV drivers," said Executive Vice President of Growth at EVgo, Scott Levitan. "Collaboration with automakers has been core to our expansion over the last several years, and EVgo is grateful for the continued support from Toyota." First announced in April 2023, Toyota's "Empact" vision aims to aid the transition of underserved communities to a future of electrified vehicle transport as part of Toyota's broader mission of providing "mobility for all." The strategy centers on three fundamental areas: access to charging, providing affordable mobility solutions, and reducing carbon emissions. The newly opened stations will help provide convenient access to EV charging for members of the surrounding communities. "Together with EVgo, we are supporting broader access to charging infrastructure for all battery EV drivers, including those driving Toyota and Lexus BEVs. We aim to ensure that customers find the newly opened stations both convenient and efficient for their charging needs," said Toyota Motor North America's General Manager of EV Charging Solutions, James George. The new stations are located in amenity-rich areas featuring convenient access to grocery stores, restaurants, shopping malls and other activities. In addition to the infrastructure collaboration, EVgo also recently extended its charging program with Toyota that provides one year of complimentary charging for drivers who buy or lease the 2025 Toyota bZ4X battery EV compact crossover sport utility vehicle. Customers can use the Toyota App on their mobile device, which will also help them locate EVgo stations and initiate the complimentary charging offer. "Toyota and EVgo's action to bring advanced fast chargers to Sacramento is an important milestone," said State Senator Angelique Ashby, D-Sacramento. "Fast charging stations provide critical infrastructure that will amplify the use of clean energy transportation across Senate District 8. This initiative is a win for our environment and for the future of sustainable mobility in Sacramento." "We are excited to receive a new, EV fast charging station in Baldwin Park, which will support our city's residents and visitors," said State Assemblywoman Blanca Rubio, D-Baldwin Park. "Infrastructure investments like this are extremely beneficial to those in the region needing a place to charge their vehicle and a positive step in air quality clean up." For more information about the EVgo network, visit For more information on Toyota's electrified vehicle offerings, please visit About EVgo EVgo (Nasdaq: EVGO) is one of the nation's leading public fast charging providers. With more than 1,100 fast charging stations across over 40 states, EVgo strategically deploys localized and accessible charging infrastructure by partnering with leading businesses across the U.S., including retailers, grocery stores, restaurants, shopping centers, gas stations, rideshare operators, and autonomous vehicle companies. At its dedicated Innovation Lab, EVgo performs extensive interoperability testing and has ongoing technical collaborations with leading automakers and industry partners to advance the EV charging industry and deliver a seamless charging experience. About Toyota Toyota (NYSE:TM) has been a part of the cultural fabric in North America for nearly 70 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships. Toyota directly employs nearly 64,000 people in North America who have contributed to the design, engineering, and assembly of nearly 49 million cars and trucks at our 14 manufacturing plants. In spring 2025, Toyota's plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, Toyota currently offers 31 electrified options. For more information about Toyota, visit View source version on Contacts EVgo Contacts For Investors:investors@ For Media:press@ Toyota Media Contact Jacob
Yahoo
05-02-2025
- Automotive
- Yahoo
Toyota announces Lexus EV plant in Shanghai
Japan's Toyota said Wednesday it will build an electric vehicle plant in Shanghai for its luxury Lexus brand as it raised its annual net profit forecast to almost $30 billion. China overtook Japan as the biggest vehicle exporter last year, helped by its dominance in EVs. Many foreign car firms are struggling in China, but Toyota -- the world's top-selling automaker -- said it wants to "match the unique needs of Chinese customers" with its new factory. "We decided to establish a wholly owned company for the development and production of Lexus BEVs (battery electric vehicles) and batteries in Shanghai, China," it said. Toyota aims to start production there after 2027, and said the new plant would create 1,000 new jobs with an annual output capacity of approximately 100,000 vehicles. It will be China's second wholly foreign owned electric vehicle factory after Tesla's Shanghai plant. Other foreign companies making cars in the country run joint ventures with Chinese companies. "Local Chinese members will take the lead in planning and developing BEVs" to suit local customers, Toyota said. "Our goal is to become a company that is more loved and supported by the people of China." - Forecasts up - Toyota said Wednesday it expects to log a net profit this financial year of 4.52 trillion yen ($29.5 billion), up from its previous forecast of 3.57 trillion yen. The "upward revision incorporates progress in strengthening earning power, backed by improvement efforts including product competitiveness", the company said. Unit sales rose for hybrid electric vehicles between April and December, Toyota said. But over the same period, in China, total vehicle sales dropped from 1.5 million to 1.4 million. Lacklustre consumer spending and tough competition is making life hard for many automakers worldwide. However, Toyota's strategy to offer a range of vehicles, including hybrids, has paid off in markets such as the United States. Tatsuo Yoshida, senior auto analyst at Bloomberg Intelligence, told AFP that Toyota was once "extremely cautious about expanding its business in China due to concerns over risks such as technology leaks". "However, the company has now shifted its approach to developing technologies and products tailored to the local market, ensuring acceptance by Chinese consumers," he said. - 'Strategic move' - China's government has supported the development and production of less polluting battery-powered vehicles, a field where Chinese manufacturers such as BYD are leading the way. So Toyota's decision to build the Shanghai plant "is a logical strategic move", Yoshida said. "Toyota's ability to make proactive investments in electrification (particularly BEVs) and its business in China, even when other auto companies hesitate, is a unique strength stemming from its abundant talent and financial resources." Toyota also said on Wednesday that its new battery plant in the US state of North Carolina was ready to begin production. The nearly $14-billion plant will start shipping batteries for North American electrified vehicles in April, the company said. Honda and Nissan, Japan's number two and three automakers after Toyota, have also launched talks on a merger to help them strengthen their position on EVs and self-driving tech. But Nissan shares plunged on Wednesday after the Nikkei business daily reported that the carmaker had decided to withdraw from merger talks, after Honda had proposed making Nissan its subsidiary. nf-kaf-reb/mtp
Khaleej Times
05-02-2025
- Automotive
- Khaleej Times
Toyota announces Lexus EV plant in Shanghai
Japan's Toyota said Wednesday it will build an electric vehicle plant in Shanghai for its luxury Lexus brand, at a time when many foreign car companies are struggling in China. The world's top-selling automaker made the announcement as it hiked its annual net profit forecast to almost $30 billion as well as its revenue projection. Toyota said it had "decided to establish a wholly owned company for the development and production of Lexus BEVs (battery electric vehicles) and batteries in Shanghai, China". It said it aims to start production there after 2027, adding that the new plant will create 1,000 new jobs with an annual production capacity of approximately 100,000 vehicles. The Nikkei business daily had reported in December that Toyota planned to build the Shanghai plant. China overtook Japan as the biggest vehicle exporter last year, helped by its dominance in EVs, a sector where Japanese firms have lost ground by focusing on hybrid vehicles. Lacklustre consumer spending and tough competition is making life hard for many automakers worldwide. But Toyota's strategy to offer a range of vehicles, including hybrids, has paid off in markets such as the United States. Toyota said Wednesday it expects to log a net profit this financial year of 4.52 trillion yen ($29.5 billion), up from its previous forecast of 3.57 trillion yen. It also hiked its full-year sales forecast to 47 trillion yen from 46 trillion yen. The "upward revision incorporates progress in strengthening earning power, backed by improvement efforts including product competitiveness", the company said. Unit sales rose for hybrid electric vehicles between April and December, Toyota said. But over the same period, in China, total vehicle sales dropped from 1.5 to 1.4 million. Honda and Nissan, Japan's number two and three automakers after Toyota, have also launched talks on a merger to help them strengthen their position on EVs and self-driving tech. But reports this week have said these discussions could be on the rocks because Honda is offering to make its struggling rival Nissan a subsidiary instead.
