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

AutoExec Summary: Toyota is reportedly in discussions with Shanghai authorities to establish an electric vehicle (EV) factory for its Lexus brand in China. According to Bloomberg, the Japanese automaker seeks benefits similar to those granted to Tesla, including tax breaks, policy support, land grants, and full ownership without local partnerships. Shanghai officials are eager to attract foreign investments like Toyota’s, with the project’s approval depending on the central government. Toyota has not confirmed these plans but aims to launch a new EV in China by 2025, following the bZ3 model. Additionally, a new Toyota EV with autonomous technology, comparable to Tesla’s Full-Self-Driving system, is planned in collaboration with Guangzhou Automobile Group (GAC).

Brands mentioned: Toyota, Lexus, Tesla, FAW, GAC