Toyota has decided to build a new factory in China to manufacture electric vehicles, according to news report in Tokyo.
The top-selling Japanese carmaker will produce its luxury car brand Lexus at a new plant in Shanghai, Nikkei business daily said on Monday, citing several sources.
Toyota has worked in China via joint ventures with local manufacturers, like most foreign carmakers, but the Japanese automaker will build this factory and operate it independently, the report said.
Toyota aims to start operations at new plant around 2027, it said.
A Toyota spokesperson told Reuters the content of the report was not published by the company.
- Jim Pollard with Reuters
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