Toyota seeks a wholly owned electric car factory in China, similar to Tesla's arrangement, for Lexus production.
Toyota is reportedly in talks with Shanghai authorities to construct a wholly owned factory, which could produce electrified cars for its Lexus brand. The company is seeking treatment similar to Tesla's, including tax breaks, policy support, and the ability to own and control the facility without a local venture partner. Toyota plans to launch its first electric car with an advanced autonomous driving system, similar to Tesla's Full Self-Driving, in China's market in 2025.
June 28, 2024
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