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...GMO, TIC and Toyota Motor all declined to comment....
...As well as making a new car model at its Derby plant, Toyota is exploring investment in manufacturing hydrogen fuel cells, which would be exported for use in larger Toyota vehicles or to other industries...
...Toyota has announced $1.4bn to produce electric SUVs in Indiana, lifting its commitments to electrify the US auto sector to nearly $19bn....
...Toyota has pledged to invest R$11bn ($2.2bn) in Brazil by the end of the decade, boosting president Luiz Inácio Lula da Silva’s goal to revive manufacturing in the South American nation....
...Rising sales of hybrid cars boosted Toyota’s third-quarter results, helping it raise its full-year profit forecasts and vindicating the company’s bet on the technology....
...Japan’s Topix fell 0.8 per cent in early trading ahead of earnings releases from Toyota Motor and Mitsubishi Corporation, which were both down 0.8 per cent. South Korea’s Kospi shed 0.6 per cent....
...The Qin hybrid is priced 40 per cent lower than Toyota’s Corolla, about a tenth lower than VW’s Lavida and about half that of other pure hybrid models such as Toyota’s Prius in the Chinese market....
...Another Toyota group scandal is still fresh in investors’ minds....
...A screen inside the Toyota plant recently told workers that “a third party, the union alone, would be authorised to speak on your behalf” and Toyota would be “forbidden” from discussing pay and working conditions...
...Truckmaker Hino, which is majority-owned by Toyota, also lost some certificates in 2022 after admitting to falsifying emissions data....
...Consumers would balk at buying more expensive fully electric cars, Toyota repeatedly warned....
...However, the risk is if EV demand picks up quickly, through mass-market production for example, Toyota might not be ready to take advantage....
...It is the latest scandal to hit a Toyota subsidiary, after its truck unit Hino in 2022 admitted to falsifying emissions data, leading to it losing certification for four engines....
...As Japan’s second- and third-largest carmakers behind Toyota, both have benefited from having a loyal local fan base. But now, the gap with Toyota is set to widen....
...Moreover, Toyota Tsusho, the trading arm of the Toyota Group, is one of the start-up’s investors. “Toyota affiliates have a strong presence in the community, and their actions can have an impact....
...However, others, including perhaps Toyota, think there is more going on....
...Toyota said the safety irregularities affected 64 models, including 22 models sold by Japan’s largest carmaker....
...They include vehicles manufactured for Toyota, Mazda and Subaru. Toyota has been betting on south-east Asia, which it hopes will propel growth....
...The Japanese benchmark fell 1 per cent, with Toyota shedding as much as 5.6 per cent in early trading....
...Japan’s Topix fell 0.8 per cent, with Toyota Motor shares shedding as much as 5.6 per cent in early trading. The carmaker faces a scandal over rigged safety tests at its Daihatsu subsidiary....
...Toyota promised “a fundamental reform” to revive its subsidiary....
...The latest findings have affected a total of 64 models, including 22 models sold by Toyota....
...Toyota is aiming for as early as 2027, Nissan the year after and Honda by the end of the decade....
...Toyota aims to increase its battery EV sales 15-fold by 2026 compared with 2023 levels to 1.5mn units....
...Toyota more than doubled its operating profit in the second quarter on the back of a weak yen and strong sales, helping to send shares up as much as 6 per cent on Wednesday....
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