Toyota Motor Corporation plans to invest in renewable energy projects in Japan in a bid to establish a ‘low carbon society’.
The automotive manufacturer has reached an agreement with Chubu Electric Power and Toyota Tsusho Corporation to set up the Toyota Green Energy LLP – a renewable energy plant in Nagoya City.
The venture aims to reduce carbon dioxide emissions to zero and provide renewable electricity to the Toyota Group in the future.
The project is part of the Toyota Environmental Challenge 2050 and is expected to launch in July this year.
Toyota Motor Corporation has a 50% investment share in the plant, whereas Chubu Electric Power and Toyota Tsusho Corporation’s respective investment will be 40% and 10%.