Toyota Motor (NYSE:TM) has signalled plans for production sites in China and the US under a wider push towards electric vehicles.
The Japanese giant, the world’s largest carmaker, said it will set up a company in China’s Jinshan district in partnership with the Shanghai government to produce EVs and batteries.
Plans for a US$14 billion (£11.2 billion) EV, hybrid and plug-in battery facility in North Carolina were also unveiled.
Some 100,000 cars a year are set to be produced at the Chinese site, according to Toyota, with output of new Lexus EVs starting in 2027.
Shipping would begin from the US facility, which was expected to make 5,000 roles, from April, it added.
The moves come after Toyota has faced pressure from the likes of Tesla Inc and BYD in the midst of a wider boom in China’s EV market.
Trade tensions between the US and China have also mounted in recent days, after Donald Trump’s confirmation of tariffs at the weekend saw the latter respond with retaliatory levies.
Toyota also unveiled third-quarter results on Wednesday, showing a 61% surge in profit to 2.19 trillion yen (£11,45 billion) as sales climbed 3% to 12.4 trillion yen.