TOKYO (Reuters) - Toyota Motor ( TM ) has decided to build a new factory to produce electric vehicles in China, the Nikkei business daily reported on Monday.

The company will produce its luxury car brand Lexus at a new plant in Shanghai, the Nikkei reported citing several sources.

Toyota ( TM ) has worked in China via joint ventures with local manufacturers but the Japanese automaker will build this factory and operate it independently, the report said.

Toyota ( TM ) aims to start operations at new plant around 2027, it said.

A Toyota ( TM ) spokesperson told Reuters the content of the report was not published by the company.