*This is a machine-translated text of the original article.

The three companies, Toyota, Chubu Electric Power Co Inc and Toyota Tsusho Corporation, announced that they agreed to jointly establish Toyota Green Energy.

Toyota Green Energy is expected to acquire and operate domestic renewable energy power sources and to supply them to the Toyota Group in the future.

Based on Toyota Environmental Challenge 2050, Toyota aims to create a society in which people, cars, and nature coexist through efforts that bring the environmental impact of cars close to zero and that are positive to the earth and society.

The company intends to contribute to low-carbon societies by eliminating CO2 emissions from factories and other facilities in the future through the use of clean electricity supplied through this project.

Chubu Electric Power is also working to expand the use of renewable energy, with the aim of deepening its ESG-based management and contributing to solving SDGs issues. By contributing to the low-carbon societies of Toyota Group, which is its business partners, Chubu Electric Power intends to improve Japan’s energy-self-sufficiency ratio and reduce CO2 emissions.

Toyota Tsusho Corporation has been engaged in renewable energy business from developing to operating power plants for more than 30 years, centered on wind and photovoltaic power generation.

The company intends to make use of its business management know-how to contribute to the transition to a low-carbon society through this initiative.

Toyota will invest 50%, Chubu Electric Power will invest 40%, and Toyota Tsusho Corporation will invest 10%.

Through Toyota Green Energy’s business operations, the three companies are working together to reduce costs for the autonomy of renewable energy power sources and ensure sustainability by extending the life of their facilities.

Original Text: https://ampmedia.jp/2020/04/04/toyota-20/