Toyota sets up wholly-owned subsidiary for Lexus Shanghai plant · TechNode

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Toyota sets up wholly-owned subsidiary for Lexus Shanghai plant · TechNode

Toyota Motor Corporation has established a new wholly owned subsidiary in the eastern Chinese city of Shanghai, named Lexus (Shanghai) New Energy Co., Ltd., which is engaged in the development and sales of new energy vehicles and batteries, effective from Tuesday. Takero Kato, president of Toyota’s BEV Factory, is the legal representative for the new entity with a registered capital of 107.1 billion yen ($711 million) and a location in the Jinsh…

toyokeizai.net

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Toyota Motor Corporation announced on February 5 that it will build a new factory in China for its luxury car brand, Lexus. A new wholly owned company will be established in Shanghai to develop and produce Lexus electric vehicles (EVs) and on-board batteries. This decision...