“Toyota will become a third carmaker that will have its own battery or electric vehicles in China, doubled its presence in the world’s largest market.”, – WRITE: epravda.com.ua
Toyota will become a third carmaker that will have its own battery or electric vehicles in China, doubled its presence in the world’s largest market. About it reports Financial Times. The world’s largest car manufacturer, which on Wednesday raised its annual profit forecast, has published plans to invest in a new plant for the production of batteries and electric vehicles in Shanghai, which will start to produce Lexus models in 2027. Toyota makes a bold move to succeed in the Chinese market where companies such as Volkswagen, Nissan and General Motors, reduce costs after falling sales in the face Foreign automobile companies were forced to create joint ventures with Chinese competitors to access the huge market, but since 2018 China has allowed foreign companies to fully own production platforms for electric vehicles. Toyota itself already has two joint ventures with FAW and GAC, selling almost 1.8 million cars in China in 2024, although it is 6.9% less than in 2023. Recall: Advertising: The world production of Toyota Motor decreased 10th consecutive month in November, although the world’s sales of the company have grown for the second month in a row due to stable demand in the United States and China.