The Shanghai factory is expected to start production in 2027 and will develop a new BEV under Toyota's premium Lexus brand.

TOKYO (Reuters) - Toyota Motor will establish a wholly owned company in Shanghai to develop and produce electric vehicles and batteries for the Lexus brand, with production set to start in 2027, the world's top-selling automaker said on Wednesday.

SHANGHAI/TOKYO -- In a strategic move to bolster its presence in the world's largest automotive market, Japanese automaker Toyota Motor Corp announced on Wednesday that it will construct a new wholly-owned electric vehicle (EV) manufacturing plant in Shanghai.

Toyota said Wednesday it will build an EV plant in Shanghai, China. The plant will produce a new Lexus brand EV vehicle.

Toyota is developing and making electric vehicles and EV batteries in China under a new partnership with the Shanghai government

By bno - Taipei Bureau Toyota Motor Corp. has revealed plans to establish a wholly-owned electric vehicle (EV) and battery manufacturing facility in Shanghai, China. In doing so, the Japanese car giant is marking a significant departure from its traditional joint venture approach in the country according to AFP.

Toyota's push also comes as worries grow around Asia about a potential trade war brewing after President Donald Trump imposed tariffs on Chinese goods and China retaliated with tariffs to take effect next week.