Toyota seeks a deal similar to what Tesla received, including tax breaks, policy support, land grants and, unusually for China, the ability to own and control the facility outright without the need for a local venture partner, Bloomberg reported.
The electric-vehicle maker had repeatedly delayed reporting results because of accounting issues. Net losses widened to $1.17 billion from $481.5 million in 2022.
The findings of a report by AlixPartners suggest that even as the U.S. enacts trade policies to protect the domestic market, Chinese automakers continue their steady march to global dominance.
The cost of the shutdown is rising rapidly as its impact becomes clearer and the number of lawsuits continues to grow.
The Miyako Hotel near Toyota’s North American headquarters in Plano, Texas, is scheduled to open in 2027 with a rooftop teppanyaki bar and a Japanese teapot in each room.