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...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...
...Last month, a union drive was announced at the Toyota plant in Troy, Missouri, where roughly 850 hourly employees turn out cylinder heads, an engine part that supplies the company’s nine North American car...
...“The region is capable of solid manufacturing, so solid start-ups should emerge as well.” A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc....
...Sales in North America and Europe were especially strong....
...Smaller companies play a big role in Japan’s electric vehicle battery supply chain, indirectly supporting the likes of Toyota Motor and Tesla....
...manufacturing efficiency....
...Toyota is pouring a further $8bn into its battery manufacturing plant in North Carolina, in the largest such investment by a foreign carmaker since the US passed the Inflation Reduction Act in 2022....
...The transaction is also the latest in a series of takeovers in the UK motor retail sector where consolidation has meant only Vertu and Caffyns remain....
...Ultimately, the company is planning to quadruple its EV battery capacity annually by 2031, mainly in North America....
...Stellantis, which already manufactures EVs in Europe and North America, aims to produce fully electric vehicles as soon as 2026 in South America, said Tavares, adding it would depend on bringing down costs...
...The Toyota group, which includes Hino and Daihatsu, still targets 11.4mn vehicle sales for the full year, with an increasing share coming from North America....
...Tesla shareholders were even more carried away, adding $46bn to the EV maker’s market cap — more than General Motors was then worth — when it announced a stock split in August 2020....
...The legislative dodge undercuts the law’s intent to bolster North American EV manufacturing while upholding its climate change goals by giving consumers more choices to go electric....
...Toyota, the world’s largest automaker, has indicated in recent weeks that it is close to a manufacturing breakthrough for a potentially game-changing technology: solid-state batteries....
...They have to come to North America. They have to find a way in. One of the ways in is to establish a base on America’s southern flank.”...
...The FT visited Detroit this week to take the pulse of the Motor City — stay tuned for our report later this weekend. The history of the Lions overlaps with the history of Detroit itself....
...Not only for UAW workers, but for all workers in America,” he said. “Just ask the folks at Toyota, which last week announced it would significantly, finally increase wages for their workers....
...Hyundai Motor Group, which owns the Hyundai, Kia and Genesis brands, also has the fourth-largest share of the overall US car market, behind Toyota, Ford and GM, according to sales data from S&P Global....
...Rivian went public in late 2021 with a market capitalisation of more than $100bn — bigger than Ford and General Motors....
...Toyota said some exports might be affected, while Volvo and JLR also use the port....
...In addition to BMW’s choice of Spartanburg, Mercedes opened its biggest North American plant in Tuscaloosa, Alabama, and Toyota chose Georgetown, Kentucky....
...Chancellor Jeremy Hunt name-checked Nissan and Toyota, which has a car factory in Derby and is considering further UK investments, in his Autumn Statement on Wednesday....
...“Winner” indicates that the organisation won an FT Innovative Lawyers North America award for 2023. The full list of award winners is available here....
...Europe and North America are the largest markets for sports bikes, but Shimano is betting on growth in south-east Asia, where most people once viewed sports bikes as luxuries....
...It ranks around 15th in the world, far ahead of Japan’s market leader, Toyota Motor....
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