Nikkei confirmed the rumor that Lexus will build a pure electric vehicle factory in Shanghai. The new factory will be wholly owned and independently operated by Lexus, producing pure electric vehicles. The specific construction time and location have not been disclosed.
Toyota indeed has vast resources. In such a brutal market environment, it hopes to maintain its target of 2.5 million units. It seems Toyota still has confidence in the demand of the Chinese market! It is estimated that Toyota will allocate part of its global market profits to allow its joint ventures to bear certain losses, just to survive in China!
Currently, it relies on its ability to profit from the global market. The price war in China will continue until 2025 and 2026!
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