Toyota to Introduce Tesla-Inspired EV Tech in China

• Toyota is constructing a Shanghai plant for EV production, set to start in 2027.
• The plant will utilize Toyota's gigacasting machinery, similar to Tesla's technology.
• This initiative is part of Toyota's strategy to reverse declining sales in China.
• The project is estimated to cost $2 billion and will focus on Lexus vehicles.
• The Shanghai factory is expected to begin operations in 2027.