Shanghai (ZXZC)- Some media reported on December 4 that FAW Toyota will locally produce Lexus branded models, based on an article released on October 20 by FAW Group's official WeChat account, saying that FAW Toyota plans to introduce Lexus luxury car brand as part of the joint venture's latest 10-year development planning. Yet, this report was denied by Lexus China and FAW Toyota on the same day.

Aside from introducing Lexus cars, there are another two steps mentioned in the 10-year development strategy. Over the next decade, the Sino-Japanese joint venture will introduce 4 new models including the IZOA and 6 NEV models and tries to sustain the 800,000-unit annual sales performance. In addition, the company plans to bring in B-segment SUVs and MPVs and strive to make its annual sales exceed 1 million units in 2023.

The Toyota-owned premium brand set a goal to have its China sales increased by 23% over the previous year to 160,000 units in 2018. By the end of November, Lexus has already delivered 148,967 vehicles in this country, the fifth month in a row that accomplished year-on-year growth.

The TNGA (Toyota New Global Architecture), the platform on which Lexus sales driver in China—the all-new ES based, has been introduced by FAW Toyota. The automaker has used the TNGA to manufacture the all-new Toyota Avalon full size sedan, which is almost same as the ES in size, powertrain and chassis.