Toyota to Set up Wholly Owned EV, Battery Unit in China
TOKYO (Reuters) - Toyota Motor will establish a wholly owned company in Shanghai to develop and produce electric vehicles and batteries for the Lexus brand, with production set to start in 2027, the world's top-selling automaker said on Wednesday.
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The Shanghai factory is expected to start production in 2027 and will develop a new BEV under Toyota’s premium Lexus brand.
Toyota said Wednesday it will build an EV plant in Shanghai, China. The plant will produce a new Lexus brand EV vehicle.
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