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Toyota Motor Corp. is establishing a wholly owned subsidiary in Shanghai to develop and produce electric vehicles and batteries for Lexus. It will be the first standalone assembly plant operated in China by Toyota, the world’s biggest automaker ranked by sales, without a local partner. Under a letter of intent signed with the Shanghai municipal government, the subsidiary, in the city’s suburban Jinshan district, will start output in 2027. The plant will have annual capacity of 100,000 and a workforce of 1,000 initially, Toyota said Feb.
5. Sign up for our daily First Shift morning newscast email for a quick video to start your day. The project also marks the first time Toyota will build models for its luxury Lexus brand in China. Toyota said it will tap Shanghai’s “advanced and mature” supply chain, logistics network and talent pool to develop Lexus-badged EVs to meet the expectations of customers at what it called “China speed.” In addition, it will collaborate with local companies to develop hydrogen energy, automated driving technology and battery recycling, the Japanese automaker added. RELATED ARTICLE: Toyota will ramp up hybrid, EV output in U.S., China; plays wait-and-see on Trump tariffs Toyota assembles Toyota-brand cars and light trucks in China through joint ventures with China FAW Group Corp.
and GAC Motor Co. It also imports Lexus vehicles. In 2024, Lexus’ China sales tallied 181,906, virtually unchanged from a year earlier, according to figures the brand disclosed Jan. 30. View Comments
Toyota Motor to build EVs, batteries in Shanghai for Lexus
February 05, 2025 03:02 PM GMT | By EODHD
