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Toyota capitalizes on brand’s popularity to kick-start sales in 2020
Toyota Motor is ramping up efforts to sell electric vehicles in China, the world’s largest auto market, where it plans to launch its first electric Lexus in 2020.
The plan was unveiled at the Guangzhou International Automobile Exhibition in late November. China’s electric vehicle market is facing challenges after the government cut subsidies. But Toyota is taking advantage of the popularity of Lexus, its premium brand, and hybrid technology to take on market leader Volkswagen.