On the morning of April 22, Shanghai hosted a signing ceremony that underscored a new era of collaboration between the city and Toyota Motor Corporation. During the event, the Shanghai Municipal Government inked a strategic cooperation agreement with Toyota Motor Corporation. Additionally, the Jinshan District Government signed a memorandum of cooperation with Toyota China, while the Jinshan District New Jinshan Development Company concluded an investment service agreement with Lexus (Shanghai) New Energy Co., Ltd. These agreements signify the official launch of a wholly-owned Lexus pure electric vehicle and battery R&D production venture by Toyota Motor Corporation in Jinshan District, Shanghai.