This new factory, however, will operate independently, with Toyota reportedly negotiating for treatment similar to what Tesla has enjoyed in the country, including tax breaks, land grants, and policy support to directly own and control factories within the country without the need for a joint venture partner.
Toyota aims to start operations at the new plant around 2027, the report said.
As part of that strategy, the brand just launched pre-orders in China for the Toyota bZ3X electric SUV, which starts at a competitively priced $13,800 (100,000 yuan).
Too little too late?
Or is Toyota so large it moves slowly like a lumbering behemoth?