Toyota Motor Corporation has officially signed a strategic cooperation agreement with the Shanghai Municipal Government, bringing a major new energy vehicle project to the city’s Jinshan Distric. Multi-layered partnership includes agreements between Toyota and Shanghai, a memorandum of cooperation between Jinshan District and Toyota China, and an investment service deal between local development firm Xinjinshan Development Co. and Lexus (Shanghai) New Energy Co., Ltd.
The project marks Toyota’s first wholly owned subsidiary in Shanghai focused specifically on electric vehicle development and production. Factory will concentrate on all-electric Lexus vehicles and batteries, representing a significant step in Toyota’s electric transformation strategy.
Toyota Takes Lexus EV Production to Shanghai with Major New Factory Deal
The new Lexus EV plant is scheduled to begin producing an all-new model in 2027, with initial production capacity set at 100k vehicles annually.
For Toyota, this Shanghai factory serves as a crucial element in accelerating its shift toward electric and smart mobility solutions. Company aims to develop EV models that will serve both Chinese consumers and global markets, using the Lexus EV plant as a key production hub.
This Toyota-led project comes as various automotive manufacturers continue repositioning themselves in the rapidly evolving Chinese EV market. When the Lexus EV plant opens its doors, will it help Toyota gain the electric foothold it needs in the world’s largest automotive market?
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