Latest news with #KoheiChiashi
Business Times
24-04-2025
- Automotive
- Business Times
Toyota inks deal for wholly owned Lexus factory in Shanghai
[SHANGHAI] Toyota Motor is set to become only the second carmaker after Tesla to operate a wholly owned factory in China after it formally agreed this week on a new electric vehicle plant near Shanghai. The world's No 1 automaker plans to produce battery-powered EVs for its Lexus brand at the facility, which should start production in 2027 and have an initial annual output of 100,000 units. Around 1,000 new jobs will be created. Bloomberg first reported on the plans last year. Although Toyota has not disclosed the amount of the investment, Japanese and local media have put it at around US$2 billion and say the new factory may lower production costs by as much as 20 per cent. The commitment underscores Toyota's ambitions in China despite intense competition from local EV makers, which have chipped away at the middle-income market segment once dominated by Japanese auto manufacturers. Assembling EVs at a reduced cost in China would also enable Toyota to export the cars to other countries and reap higher profits. 'We can confirm that a signing ceremony was held in Shanghai between Toyota officials and city officials,' a Toyota representative said on Thursday (Apr 24), adding that construction will start in June. Lexus unveiled a new version of its ES luxury sedan at the auto show in Shanghai this week, to be sold first to Chinese buyers. The car will be available as a hybrid or as fully battery-powered vehicle, and will eventually be sold in other major markets. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Toyota is betting that the customer base for Lexus in China will remain strong even as China's economic growth slows and automakers in the world's biggest car market increasingly cater to young drivers used to buying more affordable EVs online. 'Nowadays people buy cars like they purchase household appliances,' Kohei Chiashi, chief engineer of the Lexus ES, said. But there will still be plenty of car buyers who visit dealerships and value that kind of service, before and after a sale, he said. 'We cannot betray their trust,' Chiashi said. 'At the same time, we need to think about how to incorporate the innovative trends happening in China – that's our challenge.' Since it debuted as a US market focused upscale offshoot of Toyota more than three decades ago, Lexus has become a global brand with more than a dozen models, including sports sedans, SUVs and even a minivan. The brand entered the Chinese market in 2004. BLOOMBERG
NZ Autocar
24-04-2025
- Automotive
- NZ Autocar
Lexus displays new ES at Shanghai motor show
Lexus released the first ES in 1989, and now an all-new ES is due here early next year. In between time, there have been seven generations of ES, the latest being the eighth. Developed under the concept of Experience Elegance and Electrified Sedan, expect an even more refined driving experience. That's in part due to HEV and BEV powertrains. The design draws inspiration from the LF-ZC concept revealed at the Japan Mobility Show in 2023. Its exterior features a flowing silhouette while inside Lexus debuts Responsive Hidden Switches. These blend physical controls into the interior for both functionality and sophistication. Hopefully the don't blend in so well you can't see them. A new 14-inch infotainment screen takes price of place front and centre. With a more spacious rear-seat design, the new ES adds further to cabin refinement. A new multilink suspension set-up no doubt contributes. ES aims for a high-level balance between handling, ride comfort and cabin hush. Lexus says the ES also 'integrates next-generation multimedia for enhanced connectivity and convenience, along with the latest Lexus Safety System+ for advanced safety and peace of mind.' A new platform design, enhanced structural rigidity and electrified powertrains aim for improved overall ride and refinement. Lexus International Chief Engineer, Kohei Chiashi, says the sedan offers key engineering advantages for refinement and dynamics, including high body rigidity and a low centre of gravity. 'These attributes contribute to the model's exceptional ride comfort, handling stability, and quietness, forming the foundation of the sedan's enduring appeal. 'With the newly developed TNGA GA-K platform, the new ES supports both HEV and BEV powertrains, offering a wider range of electrified vehicle choices while contributing to the realisation of a carbon-neutral society. The new ES delivers a fresh and unprecedented sedan experience unlike any sedan previously seen from Lexus,' says Kohei Chiashi.
