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All the Lexus sold in China is imported from Japan. In the past two years, TOYOTA has begun to study how to localize production.
Last year Toyota discussed the Lexus model with two Chinese joint venture partners, Guangzhou Automobile Group (601238.SS) and FAW. It is unclear whether TOYOTA is looking for cooperation between the two companies or whether they are looking for TOYOTA.
Localized production will be a major shift for Toyota, thanks to improved relations with Japan and China's liberalization of foreign ownership rules. Under the new regulation, foreign automobile companies can wholly or have a majority stake in Chinese business.
"We are very contradictory on this issue," one of the sources said.
"But there is no reason to miss this opportunity," another source told Reuters.
The four insiders refused to be named because they were not authorized to talk with the media.
China plans to lift restrictions on foreign ownership of the automotive industry, and TSLA.O has been approved by the Chinese government to set up a wholly owned superfactory in Shanghai. This is the first time foreign car companies have been allowed to build factories in China.
According to an insider, Toyota considered transferring Lexus production to China as early as 2011-12.
But until now, the company thought the risk of a possible decline in quality was too high and did not want to abandon the brand's relatively high margins after sharing profits with Chinese partners.
Two TOYOTA insiders said the company had analyzed the specific situations of Lexus localization.
"All the preparations have been basically completed," one of them said. "We're waiting for the management to'Give an order'.


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