Toyota to Build First Independent EV Factory in Shanghai, China for Lexus Models

Dec 23, 2024, 03:19 PM

Toyota Motor Corporation has announced plans to construct a new factory in Shanghai, China, dedicated to the production of electric vehicles (EVs), specifically luxury Lexus models. This facility will be Toyota's first independently operated plant in China, aimed at enhancing the company's control over its operations in the world's largest automotive market. The decision reflects Toyota's strategic shift towards electric vehicle production amid increasing global demand for EVs.