Lexus to build a wholly-owned factory in Shanghai? Negotiations are coming to an end

On December 25th, 2024, according to Nikkei coverage, Toyota Motor will establish a new pure electric vehicle (BEV) factory in Shanghai and produce luxury Lexus electric vehicles there. The plant is expected to start production in 2027. The reporter received a reply from Toyota China and Lexus China, saying that there is no more detailed information, and it is currently unofficial. < b > The reporter learned from the two levels of government in the urban area that the negotiations between the two sides are in the end, and there are still a few issues to be unified.