Toyota has started building its first wholly-owned plant in Shanghai with the aim of making electric vehicles for its premium Lexus brand. The facility will have an expected production capacity of 100,000 vehicles annually, according to a June 27 post published by the Shanghai Economic and Information Technology Committee. Toyota is aiming to complete the initial construction work next August and start producing its Lexus EVs in the Jinshan district on Shanghai’s outskirts in early 2027, the city’s industry regulator said in the announcement. The news comes several months after the Japanese automaker unveiled plans in February to establish a wholly-owned entity in Shanghai in the hope of ramping up EV development and sales in the country’s fiercely competitive car market. In March, the company launched its most affordable EV model, the Bozhi 3X, at a starting price of only RMB 104,800 ($14,630), amid pressure to lower prices from domestic players such as BYD and Geely. [TechNode reporting, Shanghai Economic and Information Technology Committee, in Chinese]
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