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.

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Toyota said Wednesday it will build an EV plant in Shanghai, China. The plant will produce a new Lexus brand EV vehicle.

The push comes as worries grow about a potential trade war brewing after President Donald Trump imposed tariffs on China and China retaliated.

Toyota's partnership with Shanghai aims to support carbon neutrality, focusing on green tech like hydrogen energy and electric vehicles. The company plans a new subsidiary in Shanghai to produce BEVs.

Japan's Toyota said Wednesday it will build an electric vehicle plant in Shanghai for its luxury Lexus brand as it raised its annual net profit forecast to almost $30 billion.

SHANGHAI/TOKYO -- In a strategic move to bolster its presence in the world's largest automotive market, Japanese automaker Toyota Motor Corp announced on Wednesday that it will construct a new wholly-owned electric vehicle (EV) manufacturing plant in Shanghai.

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.