Toyota considers acquiring Nezha Auto

Recently, there have been reports that Toyota is considering acquiring Nezha Auto, a domestic new energy vehicle manufacturer. If this move comes true, it is expected to help Toyota accelerate its electrification process in the Chinese market. Nezha Auto was once a leader in the field of new energy vehicles in China, but its sales have fallen sharply in recent years. In 2024, its sales fell 40% year-on-year, with only 61,600 vehicles sold. Despite facing many challenges, Nezha Auto reached a debt-to-equity swap agreement of more than 2 billion yuan with 134 core suppliers in March this year, showing signs of recovery.