According to Tokyo Shimbun reports, Toyota has decided to build a new factory in China to produce electric vehicles.
The best-selling Japanese automaker will produce its luxury car brand Lexus at a new factory in Shanghai, Nikkei Index Business Daily quoted multiple sources as saying on Monday.
Toyota, like most foreign automakers, has been operating in China through joint ventures with local manufacturers, but the Japanese automaker will build the plant and operate it independently, the report said.
Toyota said the new plant is scheduled to begin operations around 2027.
A Toyota spokesman told Reuters the contents of the report had not been released by the company.
- Jim Pollard, Reuters
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The article “Toyota will build a factory in China to produce luxury electric vehicles – Nikkei Shimbun” first appeared in “Asia Finance”.
