Toyota to Build Wholly-Owned Lexus EV Plant in Shanghai by 2027

The automaker aims to produce 100,000 electric vehicles annually while aligning with China's carbon neutrality goals.

Toyota announced plans to establish a wholly-owned electric vehicle and battery manufacturing facility in Shanghai's Jinshan district, set to begin production in 2027.
The plant will focus on producing Lexus-branded battery electric vehicles, with an initial capacity of 100,000 units per year and the creation of approximately 1,000 jobs.
This marks Toyota's shift in strategy to compete in China's highly competitive EV market, dominated by local companies like BYD, and follows Tesla's model of wholly-owned operations in Shanghai.
Toyota plans to collaborate with the Shanghai government on carbon neutrality initiatives, supporting China's goal to achieve net-zero emissions by 2060.
The announcement coincides with Toyota's improved financial outlook for the fiscal year, raising its profit forecast to $30.7 billion, despite challenges in global and Chinese markets.