Toyota builds a new EV plant in Shanghai

Japanese automaker Toyota Motor Corp. announced Wednesday that it will build a new wholly-owned electric vehicle (EV) plant in Shanghai.

The plant, located in Jinshan District, will develop a Lexus brand electric car, with production scheduled for 2027, the company said in a press release. The plant will turn out 100,000 cars annually in the first phase, creating about 1,000 new jobs, it added.

Jinshan District said that it welcomes global investors, and will continue to foster a world-class business environment by providing them with higher-quality, efficient and targeted services.