Toyota Begins Construction of First Wholly-Owned Lexus EV Plant in Shanghai
Toyota Motor Corporation has officially commenced construction on its first wholly-owned manufacturing facility in Shanghai, dedicated to producing electric vehicles for its premium Lexus brand. According to an announcement by the Shanghai Economic and Information Technology Committee, the new plant is located in the Jinshan district and is designed with an annual production capacity of 100,000 vehicles. The company aims to complete initial construction by next August, with mass production of Lexus EVs scheduled to begin in early 2027. This strategic move follows Toyota's February announcement regarding the establishment of a wholly-owned entity in Shanghai to accelerate EV development and sales within China's highly competitive automotive market. The decision comes amid intensifying pressure from domestic rivals like BYD and Geely, which have driven price wars in the sector. Recently, Toyota launched its affordable Bozhi 3X model to compete in this landscape. This investment underscores Toyota's commitment to expanding its electric vehicle footprint in China, leveraging local manufacturing capabilities to enhance competitiveness and respond to the rapid shift towards electrification in one of the world's largest car markets.
Wire timeline
Toyota Begins Construction of First Wholly-Owned Lexus EV Plant in Shanghai
Toyota Motor Corporation has officially commenced construction on its first wholly-owned manufacturing facility in Shanghai, dedicated to producing electric vehicles for its premium Lexus brand. According to an announcement by the Shanghai Economic and Information Technology Committee, the new plant is located in the Jinshan district and is designed with an annual production capacity of 100,000 vehicles. The company aims to complete initial construction by next August, with mass production of Lexus EVs scheduled to begin in early 2027. This strategic move follows Toyota's February announcement regarding the establishment of a wholly-owned entity in Shanghai to accelerate EV development and sales within China's highly competitive automotive market. The decision comes amid intensifying pressure from domestic rivals like BYD and Geely, which have driven price wars in the sector. Recently, Toyota launched its affordable Bozhi 3X model to compete in this landscape. This investment underscores Toyota's commitment to expanding its electric vehicle footprint in China, leveraging local manufacturing capabilities to enhance competitiveness and respond to the rapid shift towards electrification in one of the world's largest car markets.
TechNode