Tokyo, Feb 5, 2025 (AFP) - Toyota announces Lexus EV plant in Shanghai

NAMPA / AFP

2025-02-05

Japan's Toyota said Wednesday it will build an electric vehicle plant in Shanghai for its luxury Lexus brand as it raised its annual net profit forecast to almost $30 billion. China overtook Japan as the biggest vehicle exporter last year, helped by its dominance in EVs. Many foreign car firms are struggling in China, but Toyota -- the world's top-selling automaker -- said it wants to "match the unique needs of Chinese customers" with its new fac......

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