Japan's Toyota Motor Corporation is reportedly in talks with authorities to build an electric vehicle production plant in Shanghai, China, according to Jiji Press and other sources on the 24th.
According to reports, Toyota plans to establish a factory in Shanghai to produce Lexus brand electric vehicles, aiming to start operations as early as 2027. This will be the first time Toyota produces Lexus brand vehicles within China. Notably, Toyota is pursuing sole local investment, becoming the first Japanese automobile brand to do so. Until now, Toyota has only conducted production in China through joint ventures with local companies.
Jiji Press stated, "In China, following the relaxation of regulations on foreign companies' automobile production, the American electric vehicle company Tesla was the first to build a wholly-owned factory," adding, "Toyota is also in discussions with the Chinese government for this purpose."
The Lexus vehicles produced at the new plant are expected to be sold exclusively within China. Last year, Lexus sales in China amounted to approximately 180,000 units.
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