Toyota planning to build electric car factory in China for Lexus models

The Japanese auto giant is reportedly in talks with Shanghai officials about building a factory for its Lexus-badged electric vehicles.

Toyota is reportedly in talks with Shanghai authorities to build an electric vehicle factory for its Lexus brand EVs in China.

According to global news outlet Bloomberg, unnamed sources “familiar with the matter” claimed the Japanese auto giant is seeking a “similar treatment” to Tesla – which is said to include benefits like tax breaks, policy support, land grants, and most notably, complete ownership of its factory without local investment and partnerships.

In a report by local newspaper ChinaPEV,  Shanghai officials are reportedly “eager to attract” large overseas companies like Toyota to increase the city’s foreign investments – with the project relying on the central government for approval.

Toyota has yet to make an official statement regarding its plans to build a Lexus EV factory in the country.  

Despite the Japanese auto giant’s rumoured plans to build a Lexus EV factory in Shanghai, Toyota is planning to launch its next electric vehicle in the country sometime in 2025 – though no dates have been officially confirmed – following the Tesla Model 3-rivalling bZ3 that is a joint venture with FAW.

According to a report by Reuters, Toyota is planning to launch a new electric vehicle model equipped with autonomous technology that is “similar” to Tesla’s Full-Self-Driving (FSD) system.

It is rumoured to be a joint venture with state-owned Guangzhou Automobile Group (GAC), and is said to increase the manufacturer’s market share in China by competing with its Chinese rivals on various battery, hybrid and autonomous technologies.

Per Reuters, GAC Toyota said the Bozhi 3X SUV will be the first battery-powered model to be equipped with autonomous technology – most likely level 2 similar to Tesla’s FSD – and is said to feature “advanced driving assistance” for parking and navigating highways and urban roads.

The post Toyota planning to build electric car factory in China for Lexus models appeared first on Drive.

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