Toyota's EV plant in Shanghai has big plans

In less than five months, a wholly owned electric vehicle plant of Japanese automaker Toyota launched construction in Jinshan district, Shanghai, after the initial cooperative framework, demonstrating the Chinese economic hub's attractiveness for international investment and the city's determination to develop a world-class new energy vehicle industrial ecosystem, said officials and experts.

The project is the world's first overseas NEV production base established by Lexus, the luxury arm of Toyota. Officially breaking ground on June 27, the Lexus new energy project involves an investment of 14.6 billion yuan ($2 billion), Shanghai-based newspaper Jiefang Daily reported. It is slated for completion in August 2026 and scheduled for production in August 2027, with an initial annual capacity of 100,000 units.

Chen Jian, deputy director of Jinshan district's investment promotion office, called the project a recognition by the world's leading automakers of China's manufacturing capabilities in NEVs, including research and development, product reliability, stability, quality, as well as the overall supply chain.