Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Toyota is reportedly planning a new EV factory in Shanghai to independently produce Lexus models, starting in 2027. The move comes as the automaker faces stiff competition from Chinese rivals like BYD in the world’s largest auto market.
Toyota Targets BYD with Shanghai EV Factory
Reportedly, in an effort to reclaim market share lost to Chinese-owned competitors like BYD, Toyota has chosen to construct a new electric vehicle (EV) factory in China.
Reuters cites an article in today's Nikkei business daily reporting that the Japanese carmaker intends to manufacture its Lexus premium brand at the new Shanghai plant.
Despite Toyota's silence on the matter, Nikkei reported that multiple individuals had discussed the decision with the media.
Autonomous Operations for New Shanghai EV Plant
Toyota, on the other hand, has a number of joint ventures in China, with the GAC Group and the FAW Group being the most important in terms of sales.
Nevertheless, this new plant will run autonomously. Toyota allegedly negotiated for perks comparable to those Tesla has received in the nation, such as tax rebates, land grants, and government assistance to own and manage factories in the country directly, without involving a joint venture partner.
Approximately 2027 is when Toyota plans to begin operations at the new facility, according to the report.
China’s Rising Automakers Challenge Toyota’s Market Dominance
The world's largest automaker, Toyota, has witnessed a decline in its market share in China, along with other Japanese manufacturers, due to the steady ascent of Chinese automakers, Electrek points out.
Reuters reported in November that the corporation plans to increase production to 2.5 million vehicles per year in China by 2030 in an effort to gain ground over BYD and other tough rivals.
The Toyota bZ3X electric SUV, which begins at a competitive price of $13,800 (100,000 yuan), is part of that approach and was just made available for pre-order in China.
