08:59 AM EST, 12/24/2024 (MT Newswires) -- Toyota Motor ( TM ) will build its first independently operated factory in China that will mainly produce luxury Lexus electric vehicles for the Chinese market, Nikkei reported Monday, citing unnamed people familiar with the matter.

The company plans to open the plant in Shanghai around 2027, the report said.

The Japanese carmaker did not immediately respond to MT Newswires' request for comment.

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