Toyota has established a hybrid vehicle battery joint venture in China to supply the vehicle it plans to launch there in 2015.

The automaker, Changshu Sinogy Venture Capital, Primearth EV Energy and Toyota Motor (China) Investment have formed Sinogy Toyota Automotive Energy System based in Changshu, Jiangsu Province.

"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," the automaker said.

Toyota, working primarily through Toyota Motor Engineering & Manufacturing (China) is currently developing a hybrid system to be manufactured in China for a vehicle to be launched around 2015.

STAES will assemble the batteries.

STAES will construct facilities and install equipment for battery assembly with operations expected also to start in 2015.

Show the press release

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

Original source: TMC

Auto market intelligence
from just-auto

• Auto component fitment forecasts
• OEM & tier 1 profiles & factory finder
• Analysis of 30+ auto technologies & more