By bno - Taipei Bureau Toyota Motor Corp. has revealed plans to establish a wholly-owned electric vehicle (EV) and battery manufacturing facility in Shanghai, China. In doing so, the Japanese car giant is marking a significant departure from its traditional joint venture approach in the country according to AFP.

The Shanghai factory is expected to start production in 2027 and will develop a new BEV under Toyota's premium Lexus brand.

Toyota Motor will establish a wholly owned company in Shanghai to develop and produce electric vehicles and batteries for the Lexus brand, with production set to start in 2027, the world's top-selling automaker said on Wednesday.