On April 8th, Toyota announced a strategic cooperation with China Minmetals on the cascading utilization and resource recycling of vehicle power batteries, and reached an agreement with Changsha Mining and Metallurgical Research Institute Co., Ltd., Hunan Cloud Storage Recycling New Energy Technology Co., Ltd., Hunan Changyuan Lithium Technology Co., Ltd., and Minghe Industry to jointly establish a joint venture. It is reported that this is Toyota's first joint venture project overseas aimed at cascading the utilization of in vehicle power batteries.