Weakened yen prompts Toyota to delay Lexus production in China
Its executives say it's now cheaper to produce the car in Japan; slowing China car market also a factor
Tokyo
TOYOTA Motor Corporation, the world's leading motor-vehicle manufacturer by sales, is expected to delay building its premium Lexus brand in China for at least several years.
Reports on Wednesday said it will continue making its cars in Japan as growth in China's motor market slows and that, with the weaker yen, it is cheaper to manufacture its cars in its home base.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Geely, Foretellix partner to jump-start self driving car development
Ferrari posts underwhelming earnings amid flat deliveries
Tesla’s China-made EV sales fall 18% y/y in April
Brokers’ take: SAC Research initiates ‘buy’ on Soilbuild with S$0.04 target
Scoot begins flights with Embraer E190-E2 jet
VinFast’s EV ambitions get a reality check as shares plunge 65%