Toyota is developing and making electric vehicles and EV batteries in China, the Japanese automaker said Wednesday, under a new partnership with the Shanghai government. Toyota Motor Corp. also announced it will start producing batteries for EVs,

Profit increased for Japanese vehicle manufacturer Toyota in its third quarter compared to the same period of the previous year. Toyota reported that its net income attributable to the company for the third quarter increased to 2.

Toyota Motor raised its full-year operating profit forecast by 9% on Wednesday, in a sign of confidence in its ability to ride out any potential U.S. tariffs. The world's top-selling automaker raised its profit forecast for the current year through March 2025 to 4.