Japanese carmaker Toyota's recent plan to build its first wholly-owned electric vehicle (EV) manufacturing plant in Shanghai has attracted broad attention. US electric car producer Tesla's Megapack energy storage plant also passed its completion inspection recently.

These foreign companies' expanding investments in this nation underscore growing foreign investor confidence in China's economic and market stability. Other Japanese vehicle makers and the entire Japanese car industry cannot ignore the Chinese market.

Toyota's decision to establish a wholly-owned EV plant in China is influenced by several key factors. Firstly, the success of Tesla's Shanghai Giga-factory cannot be overlooked.