Fast Technology reported on December 24.
According to Cailian, it was recently reported that Toyota Motor has decided to build a new electric vehicle production plant in Shanghai, China, mainly producing its luxury brand “Lexus” models.
This investment is different from past joint venture models, and Toyota will build and operate the factory separately for the first time.
According to many people familiar with the matter, Toyota has identified a site for the factory in Shanghai.
It is expected that the factory will be put into operation around 2027, mainly producing Lexus cars sold to the China market.
In response to this, Lexus China responded to the media today and said: “Unofficial news, no comment.
” In fact, as early as June this year, there were reports that Toyota was seeking similar treatment to Tesla in Shanghai, including tax breaks, policy support, land grants, and conditions to operate directly without a local joint venture partner.
The factory will produce electric vehicles for its Lexus brand.
Moreover, the restrictive policy for foreign brands to build factories solely in China has also been adjusted starting from 2022.
Starting from January 1, 2022, my country’s automobile manufacturing sector has lifted the restriction on the ratio of foreign-invested shares in passenger car manufacturing, allowing the same foreign company to establish more joint ventures in China to produce similar complete vehicle products.
This also provides a policy possibility for Toyota to wholly establish a factory.
, Currently, Toyota’s production in China is under the responsibility of two joint venture brands, FAW Toyota and GAC Toyota.
Lexus is mainly imported from Japan for domestic sales.
However, in the past two years, Lexus sales in China have also faced an embarrassing decline due to intensified competition from new energy vehicles and domestic high-end models.
If Lexus chooses to develop and produce electric vehicles in China at this time, it is expected to benefit from China’s new energy industry chain.
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