![]() The company decided to abolish a zero emissions vehicle design division, known as ZEV factory, it had set up in Japan. Toyota will speed up its push to provide "appropriate" solutions for different regions, said Sato, adding that new models would range from compact commercial to luxury vehicles and be centred mainly on the United States and China.Ī previously announced dedicated unit to focus on next-generation battery EVs, known as BEV Factory, would consist of three platforms focusing on vehicle chassis, electronics and software, he said. Seeking to raise its game in the EV sector, where it has been outstripped by new Chinese automakers as well as Tesla, Toyota has said it will introduce 10 new battery-powered vehicles, targeting sales of 1.5 million EVs a year by 2026. That would represent output growth of 11% versus the previous year. improvement in semiconductor supply," Toyota said in a statement. "We expect an increase in (overall) sales volume in all regions and production volume of 10.1 million (vehicles), due to such factors as. Toyota shares, which were nearly flat before the release of the earnings, surged immediately on their publication and rose as much as 2.5% before paring gains to close up 0.8%. Reflecting the impact of the weak yen, revenue for the business year that ended in March this year grew to a record 37.15 trillion yen. ![]() The profit target has been helped by a weak yen boosting the value of overseas sales, and higher output volumes that outweighed the impact of surging materials costs. "We would like to work on both sides," he said. Toyota's strategy has seen it come under pressure in China, the world's biggest auto market, where nimble local brands such as BYD Co Ltd have moved aggressively with battery EVs, weakening dominance of established foreign brands.īut Sato said the demand for purely battery-powered vehicles in China largely represented a new need in the market and was separate from demand for hybrid vehicles. That target came after operating profit for the fiscal fourth quarter through March surged more than a third to 626.9 billion yen - easily ahead of the average 553.46 billion yen profit estimated by 10 analysts, according to Refinitiv data. Toyota forecast operating profit would rise to 3.0 trillion yen ($22.2 billion) this business year, in line with an analysts' average forecast of 3.02 trillion yen. ![]() The world's biggest car maker by sales forecast battery EV sales, including those of its luxury Lexus brand, would reach 202,000 worldwide this business year through March 2024 - up more than fivefold from 38,000 units last year. Toyoda has a personal attachment to Thailand, calling it his "home away from home" at an event to celebrate Toyota's 60th anniversary of operations in the country late last year.The growth plan was unveiled by new CEO Koji Sato, installed last month, and signals a more aggressive push towards electrification by the Japanese firm that has previously pursued a go-slow approach to all-electric cars, arguing its strategy would provide more consumer choice. Toyota Chairman Akio Toyoda said he had visited the Gateway plant for the first time in a decade to assure workers, also saying he had come to the Southeast Asian nation because he loved it. The Gulf Cooperation Council comprises Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain and Oman. Toyota and Daihatsu disclosed last month they were investigating how part of the door in side-collision safety tests carried out for some 88,000 small cars had been changed for the purpose of side-on crash safety testing.ĭaihatsu has said that some 76,000 of those vehicles were Yaris Ativs mainly bound for Thailand, Mexico and the Gulf Cooperation Council. "I think the fact that it still happened, means there was some kind of pressure at the development site," he said, adding that the vehicle's relatively large size may have posed a challenge to Daihatsu, which specialises in the production of small cars. ![]() "If development had been carried out under appropriate conditions, this kind of problem would of course not have happened," Maeda said. Toyota was working with the Thai government to resume sales of the model, which has been produced in Toyota's Gateway plant in Chachoengsao province, and further investigation was underway. The vehicles customers were currently using were safe, he added. The problem may have occurred due to pressure on Daihatsu to shorten the development time of the Ativ, Masahiko Maeda, Toyota's CEO for the Asia region, said at a press conference in Bangkok.
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