TM slashes its EV production target for 2026 by 30% to one million units due to slower-than-anticipated EV adoption.
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“I couldn't get a cashier's check at the dealer yesterday as I had my four kids with me.”
Toyota Motor (NYSE:TM) has cut electric vehicle production schedules for 2026 by a third due to the slowdown in demand globally. Having been heavily criticised for being slow in its adoption of Evs and for its focus on hybrids, the Japanese car maker is now looking well ahead of the game as other car makers adopt its strategy.
Toyota Motor will cut its 2026 global EV production to around 1 million vehicles, down from a previously announced sales plan of 1.5 million, the Nikkei business daily reported on Friday.
Toyota Motor , Nissan Motor and other companies will help expand Japanese production capacity for storage batteries by around 50% with government support through a total investment of 1 trillion yen ($6.97 billion), the Nikkei reported on Friday.
German automaker BMW Group and Japan's Toyota Motor (TM) have announced a collaboration agreement to develop hydrogen fuel cell electric vehicle (FCEV) technology.
The Japanese automaker recalled 43,395 2023-2024 Sequoia Hybrids sold in the US after identifying a risk with the vehicles' tow hitches.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
From Instagram ads to telesales, Japanese automakers Toyota and Maruti Suzuki are going all out to market their hybrid cars in the most populous Indian state of Uttar Pradesh, aiming to cash in on tax waivers that upset many of their rivals.
Toyota Motor said on Thursday its global production slipped for a sixth straight month in July, hurt by declines in markets such as China and Thailand, though the fall was smaller than the previous month's double-digit drop.
TM and BMWYY are poised to expand their partnership on fuel cell vehicles to standardize components and reduce cost.