Lexus: Japanese luxury brand goes native in China

Reports emerged in July 2024 that Toyota wanted to build a wholly owned factory in China for its premium brand, Lexus, to make two models: a hybrid and a battery electric vehicle (BEV). Like Tesla before it, Toyota was arguing for the right to run a subsidiary rather than a joint venture with a Chinese company. Come early 2025, it would appear to have won that right; it has announced a new factory in Shanghai to make Lexus BEVs and, significantly, batteries.