Toyota teams up with Chubu Electric to enter renewable energy market in Japan

first_img FacebookTwitterLinkedInEmailPrint分享Saur Energy:Toyota Motor Corporation has announced that it has concluded an agreement to establish Toyota Green Energy LLP with Chubu Electric Power and Toyota Tsusho Corporation, for the purposes of obtaining and managing renewable energy sources in Japan and supplying electric power from renewable energy sources to the Toyota Group in the future.The automotive giant said that it aspires to move toward a society where people, automobiles, and nature can coexist in harmony. Under Toyota Environmental Challenge 2050, Toyota plans to reduce the environmental impact from automobiles to as close to zero as possible and at the same time engage in activities that contribute to the global environment and society. The clean energy to be supplied through this business is expected to reduce CO2 emissions from plants and other facilities to zero in the future and to contribute to the realisation of a low-carbon society.The investment ratio for the new firm is: Toyota Motor Corporation 50 percent, Chubu Electric Power 40 percent, Toyota Tsusho Corporation 10 percent.Chubu Electric Power has been increasing the use of renewable energy in its drive to expand the scope of ESG management and contribute to resolving issues relating to SDGs. By participating as a business partner in the activities of the Toyota Group to create a low-carbon society, the company will contribute to improving Japan’s energy self-sufficiency rate and reducing CO2 emissions.Recently, Toyota along with BYD Company had announced the launch of their new joint venture (JV) company to conduct research and development (R&D) of battery electric vehicles (BEVs). Operations are scheduled to commence in May 2020. The name of the new company is BYD Toyota EV Technology (BTET).[Ayush Verma]More: Toyota launches renewable venture with Chubu Electric in Japan Toyota teams up with Chubu Electric to enter renewable energy market in Japanlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *