Toyota said to be in final talks with Shanghai to build wholly-owned EV plant
2024-12-25 11:44:21

There have been different responses to the rumors that Toyota will build a wholly-owned electric car plant in Shanghai, Caijing.com reported on Wednesday.

Toyota China and Lexus China said they don't have more detailed information and that the rumors are all unofficial at this point.

The Shanghai municipal and district governments said that the negotiations between the two sides have come to an end, with a few issues still to be agreed upon.

The news comes on the heels of a Nikkei report that Toyota will build a new battery electric vehicle (BEV) plant in Shanghai, where it will produce luxury Lexus electric vehicles.

It is said that the plant is expected to go into production in 2027.

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