A Japanese battery start-up is launching a commercial fleet service using Geely EVs.

Toyota said there was "a possibility" that it could lower its full-year production plan of 9.7 million vehicles as it faces a continuing shortage of parts due to the COVID-19 lockdowns in China.

The letter, dated May 1 and addressed to local authorities in Shanghai's Lingang Special Area, outlined the lengths to which the city went to help Tesla, indicating the U.S. automaker's importance to Shanghai.

The expansion, if it goes ahead, would give Tesla EV-dedicated production capacity in the world's largest auto market on a par with more established brands in China.

Toyota's new EV will be slightly bigger than its compact Corolla, the world's best-selling car of all time. One source told Reuters that the vehicle is like a "Corolla with bigger back-seat section."