Toyota Mulling Lexus Production in China
Toyota Mulling Lexus Production in China
Toyota Motor Corp. is considering launching production of its Lexus luxury brand vehicles in China, the world’s largest vehicle market, a company official said Sunday. Hiroji Onishi, senior managing officer of the leading Japanese automaker and head of its Toyota Motor (China) Investment Co. unit in Beijing, unveiled this at a press conference at the Shanghai motor show.
The Chinese market is expected to continue growing, with demand for luxury vehicles surging in coastal regions where economic expansion has been rapid. By starting local production, Toyota aims to boost price competitiveness of Lexus vehicles and reflect customer needs in the models speedily. But Onishi said that it would take more time before the company begins Lexus production in China.
Toyota is expected to decide on the timing of the production launch and the scale of production while watching auto market trends in China and the availability of parts and components, informed sources said. Toyota on Friday announced its plans to start Lexus output in the United States in 2015. The country would thus become the second overseas production base for the brand after Canada.
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