The government of Uttar Pradesh&nbsp;has reaffirmed its decision to maintain tax waivers for hybrid vehicles, as confirmed by two sources on Monday. This decision represents a victory for Toyota while potentially impacting the strategies of domestic automakers such as Tata Motors and Mahindra &amp; Mahindra.

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The state's stance has sparked concern among several major automakers, including Hyundai, Kia Motors, Tata, and Mahindra. These companies have been actively lobbying against the incentive, arguing that it could hinder India's progress towards achieving its targets for electric vehicle (EV) adoption and potentially disrupt their planned investments in the sector. Uttar Pradesh is a crucial market for the automotive industry, accounting for approximately 10 per cent&nbsp;of India's total car sales.

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On Sunday, a meeting took place between state officials and representatives from various automakers to discuss the issue. During this meeting, Uttar Pradesh Chief Secretary Manoj Kumar Singh explicitly stated that there would be no reversal of the decision to waive registration taxes for hybrid vehicles. According to an industry source and a state government official with direct knowledge of the proceedings, Singh emphasised that the "status quo will remain."

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The implications of this decision extend beyond Uttar Pradesh, as executives in the EV industry express concerns that other states might follow suit. Last month's waiver of registration taxes on certain hybrid cars in Uttar Pradesh effectively made these vehicles 10 per cent&nbsp;cheaper, creating a significant price advantage. For instance, this could translate to savings of up to UDS&nbsp;5,200 on a Toyota Camry hybrid sedan, marking a major lobbying success for the Japanese automaker.

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Sunday's meeting saw participation from representatives of various automakers, each with their stance on the issue. Hyundai, Mahindra, and Tata representatives advocated for a reversal of the tax waivers, while Maruti and Toyota representatives supported the scheme. This division highlights the conflicting interests within the automotive industry regarding hybrid and fully electric vehicle technologies.

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The broader context of India's automotive taxation structure adds another layer of complexity to this issue. At the federal level, India imposes a 5 per cent&nbsp;tax on EVs, while hybrid vehicles are subject to a 43 per cent&nbsp;tax rate. This is just slightly lower than the 48 per cent&nbsp;tax rate applied to conventional gasoline-powered cars. It's important to note that state-specific road and registration taxes are additional and determined by local governments, which is why Uttar Pradesh's decision has such significant implications.

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This situation underscores the ongoing debate in India's automotive sector regarding the balance between promoting hybrid technology as a transitional solution and pushing for more rapid adoption of fully electric vehicles. The outcome of this policy decision in Uttar Pradesh could have far-reaching effects on the strategies of both domestic and international automakers operating in the Indian market, potentially influencing investment decisions and product development priorities in the coming years.

The government of Uttar Pradesh has reaffirmed its decision to maintain tax waivers for hybrid vehicles, as confirmed by two sources on Monday. This decision represents a victory for Toyota while potentially impacting the strategies of domestic automakers such as Tata Motors and Mahindra & Mahindra.

The government of Uttar Pradesh has reaffirmed its decision to maintain tax waivers for hybrid vehicles, as confirmed by two sources on Monday. This decision represents a victory for Toyota while potentially impacting the strategies of domestic automakers such as Tata Motors and Mahindra & Mahindra. The state's stance has sparked concern among several major automakers, including Hyundai, Kia Motors, Tata, and Mahindra. These companies have been actively lobbying against the incentive, arguing that it could hinder India's progress towards achieving its targets for electric vehicle (EV) adoption and potentially disrupt their planned investments in the sector. Uttar Pradesh is a crucial market for the automotive industry, accounting for approximately 10 per cent of India's total car sales. On Sunday, a meeting took place between state officials and representatives from various automakers to discuss the issue. During this meeting, Uttar Pradesh Chief Secretary Manoj Kumar Singh explicitly stated that there would be no reversal of the decision to waive registration taxes for hybrid vehicles. According to an industry source and a state government official with direct knowledge of the proceedings, Singh emphasised that the "status quo will remain." The implications of this decision extend beyond Uttar Pradesh, as executives in the EV industry express concerns that other states might follow suit. Last month's waiver of registration taxes on certain hybrid cars in Uttar Pradesh effectively made these vehicles 10 per cent cheaper, creating a significant price advantage. For instance, this could translate to savings of up to UDS 5,200 on a Toyota Camry hybrid sedan, marking a major lobbying success for the Japanese automaker. Sunday's meeting saw participation from representatives of various automakers, each with their stance on the issue. Hyundai, Mahindra, and Tata representatives advocated for a reversal of the tax waivers, while Maruti and Toyota representatives supported the scheme. This division highlights the conflicting interests within the automotive industry regarding hybrid and fully electric vehicle technologies. The broader context of India's automotive taxation structure adds another layer of complexity to this issue. At the federal level, India imposes a 5 per cent tax on EVs, while hybrid vehicles are subject to a 43 per cent tax rate. This is just slightly lower than the 48 per cent tax rate applied to conventional gasoline-powered cars. It's important to note that state-specific road and registration taxes are additional and determined by local governments, which is why Uttar Pradesh's decision has such significant implications. This situation underscores the ongoing debate in India's automotive sector regarding the balance between promoting hybrid technology as a transitional solution and pushing for more rapid adoption of fully electric vehicles. The outcome of this policy decision in Uttar Pradesh could have far-reaching effects on the strategies of both domestic and international automakers operating in the Indian market, potentially influencing investment decisions and product development priorities in the coming years.

Uttar Pradesh backs hybrid tax waiver in win for Toyota, blow for Tata

Toyota promised Friday to beef up supervision of its vehicle certification to ensure that the scandal that erupted recently over improper tests never happens again.

Japan's top automaker detailed the measures it plans to take, which include more managerial involvement, additional personnel assigned to tasks relating to certification, and clearly setting out the responsibilities of particular positions, including that of chief engineer.

The report was presented to the Japanese government, which reprimanded Toyota last month.

Only two months ago, Toyota Motor Corp. came clean about fraudulent testing on a broad scale, including the use of insufficient or outdated data on crash tests, wrong testing of airbag inflation, and engine power checks.

The misconduct doesn't affect the safety of the vehicles already out in traffic, which include popular Corolla subcompact and Lexus luxury vehicles. That means owners don't have to do anything.

But it has been a major embarrassment for a manufacturer that prides itself on empowering its workers to ensure quality control.

Toyota has stopped production of some models. Japanese media reports have estimated that the scandal will cut Toyota's annual global output by 500,000 vehicles. Toyota sells 11 million vehicles a year worldwide.

After the revelation, Toyota found more deceit, such as certifications for pedestrian protection, side collisions, and steering impact.

"There were many areas for improvement in the foundation of certification operation, such as the data management system and the establishment of regulations and procedures for the certification operations," a statement from Toyota said.

The Japanese government also launched an investigation into Toyota in January. Overseas production is not involved in the issue.

Similar fraudulent tests were found at other Japanese automakers, Mazda Motor Corp. and Honda Motor Co., and at the Toyota group makers Hino Motors and Daihatsu Motor Co.

Toyota promised Friday to beef up supervision of its vehicle certification to ensure that the scandal that erupted recently over improper tests never happens again.

Toyota promised Friday to beef up supervision of its vehicle certification to ensure that the scandal that erupted recently over improper tests never happens again. Japan's top automaker detailed the measures it plans to take, which include more managerial involvement, additional personnel assigned to tasks relating to certification, and clearly setting out the responsibilities of particular positions, including that of chief engineer. The report was presented to the Japanese government, which reprimanded Toyota last month. Only two months ago, Toyota Motor Corp. came clean about fraudulent testing on a broad scale, including the use of insufficient or outdated data on crash tests, wrong testing of airbag inflation, and engine power checks. The misconduct doesn't affect the safety of the vehicles already out in traffic, which include popular Corolla subcompact and Lexus luxury vehicles. That means owners don't have to do anything. But it has been a major embarrassment for a manufacturer that prides itself on empowering its workers to ensure quality control. Toyota has stopped production of some models. Japanese media reports have estimated that the scandal will cut Toyota's annual global output by 500,000 vehicles. Toyota sells 11 million vehicles a year worldwide. After the revelation, Toyota found more deceit, such as certifications for pedestrian protection, side collisions, and steering impact. "There were many areas for improvement in the foundation of certification operation, such as the data management system and the establishment of regulations and procedures for the certification operations," a statement from Toyota said. The Japanese government also launched an investigation into Toyota in January. Overseas production is not involved in the issue. Similar fraudulent tests were found at other Japanese automakers, Mazda Motor Corp. and Honda Motor Co., and at the Toyota group makers Hino Motors and Daihatsu Motor Co.

Toyota's scandal-ridden certification process sends shockwaves through Japan's auto industry

Toyota has confirmed that the GR Corolla will now feature an automatic transmission option for the 2025 model year, alongside several mechanical and design enhancements. This marks a significant shift for the popular hot hatch, which has primarily been associated with manual driving pleasure.

The introduction of an eight-speed automatic transmission is a key update for the 2025 GR Corolla. Unlike the gearboxes found in the GR Supra and GR86, this transmission comes with advanced technology that enhances driving dynamics. Toyota states that the system's software can analyse pedal inputs to determine the optimal shifting points, providing a seamless driving experience.

For purists, the 1.6-litre turbocharged three-cylinder engine remains available with a six-speed manual transmission. This engine continues to deliver an impressive 300 horsepower. However, torque has been increased from 273 to 295 pound-feet, aligning it with the more performance-oriented Morizo Edition model.

Performance Enhancements

Toyota has made several tweaks to the GR Corolla's suspension system to enhance handling and stability. The inclusion of front and rear rebound springs helps minimise inner wheel lift during aggressive cornering. Additionally, adjustments to the rear suspension improve overall handling, and raising the trailing arm mounting point reduces rear squat under acceleration.

All 2025 GR Corolla models come equipped with front and rear limited-slip differentials as standard. Previously, these were part of the base trim's optional Performance Package and were standard on the Premium and Circuit Edition models. This change reflects Toyota's commitment to providing better handling and traction across all trim levels.

Visual and Functional Design Updates

The 2025 GR Corolla boasts several visual updates that enhance its aesthetics and functionality. The front bumper has been redesigned to improve cooling efficiency, accommodating the radiator, intercooler, and newly available sub-radiator. The transmission fluid cooler is now standard with the automatic transmission, ensuring optimal performance under various driving conditions.

Toyota has introduced a new range-topping trim level for 2025, called Premium Plus. This model includes features previously exclusive to limited-edition models, such as a carbon fibre roof panel and a hood with functional vents. The Premium Plus trim also comes with flat black-finished wheels, adding a distinctive look to the vehicle.

Trim Levels and Additional Features

The 2025 GR Corolla is available in three trim levels: Core, Premium, and the new Premium Plus. Each trim offers a blend of performance and comfort features tailored to different driving preferences. The Premium Plus trim, in particular, stands out with its enhanced features and performance upgrades.

To enhance the ownership experience, every purchase of the 2025 GR Corolla includes a complimentary one-year membership to the National Auto Sport Association. Buyers also receive a free one-day performance driving event, allowing them to fully experience the car's capabilities in a controlled environment.

Availability and Pricing

The 2025 Toyota GR Corolla is set to arrive in showrooms by late 2024. Pricing details will be released closer to the launch date, but the enhancements and new features suggest a competitive positioning within the hot hatch segment.

The introduction of an automatic transmission and significant performance upgrades make the 2025 GR Corolla an exciting prospect for enthusiasts and everyday drivers alike. Toyota's latest iteration of the GR Corolla continues to blend performance, practicality, and advanced technology, ensuring its place as a formidable contender in the performance hatchback market.

Toyota has confirmed that the GR Corolla will now feature an automatic transmission option for the 2025 model year, alongside several mechanical and design enhancements.

Toyota has confirmed that the GR Corolla will now feature an automatic transmission option for the 2025 model year, alongside several mechanical and design enhancements. This marks a significant shift for the popular hot hatch, which has primarily been associated with manual driving pleasure. The introduction of an eight-speed automatic transmission is a key update for the 2025 GR Corolla. Unlike the gearboxes found in the GR Supra and GR86, this transmission comes with advanced technology that enhances driving dynamics. Toyota states that the system's software can analyse pedal inputs to determine the optimal shifting points, providing a seamless driving experience. For purists, the 1.6-litre turbocharged three-cylinder engine remains available with a six-speed manual transmission. This engine continues to deliver an impressive 300 horsepower. However, torque has been increased from 273 to 295 pound-feet, aligning it with the more performance-oriented Morizo Edition model. Performance Enhancements Toyota has made several tweaks to the GR Corolla's suspension system to enhance handling and stability. The inclusion of front and rear rebound springs helps minimise inner wheel lift during aggressive cornering. Additionally, adjustments to the rear suspension improve overall handling, and raising the trailing arm mounting point reduces rear squat under acceleration. All 2025 GR Corolla models come equipped with front and rear limited-slip differentials as standard. Previously, these were part of the base trim's optional Performance Package and were standard on the Premium and Circuit Edition models. This change reflects Toyota's commitment to providing better handling and traction across all trim levels. Visual and Functional Design Updates The 2025 GR Corolla boasts several visual updates that enhance its aesthetics and functionality. The front bumper has been redesigned to improve cooling efficiency, accommodating the radiator, intercooler, and newly available sub-radiator. The transmission fluid cooler is now standard with the automatic transmission, ensuring optimal performance under various driving conditions. Toyota has introduced a new range-topping trim level for 2025, called Premium Plus. This model includes features previously exclusive to limited-edition models, such as a carbon fibre roof panel and a hood with functional vents. The Premium Plus trim also comes with flat black-finished wheels, adding a distinctive look to the vehicle. Trim Levels and Additional Features The 2025 GR Corolla is available in three trim levels: Core, Premium, and the new Premium Plus. Each trim offers a blend of performance and comfort features tailored to different driving preferences. The Premium Plus trim, in particular, stands out with its enhanced features and performance upgrades. To enhance the ownership experience, every purchase of the 2025 GR Corolla includes a complimentary one-year membership to the National Auto Sport Association. Buyers also receive a free one-day performance driving event, allowing them to fully experience the car's capabilities in a controlled environment. Availability and Pricing The 2025 Toyota GR Corolla is set to arrive in showrooms by late 2024. Pricing details will be released closer to the launch date, but the enhancements and new features suggest a competitive positioning within the hot hatch segment. The introduction of an automatic transmission and significant performance upgrades make the 2025 GR Corolla an exciting prospect for enthusiasts and everyday drivers alike. Toyota's latest iteration of the GR Corolla continues to blend performance, practicality, and advanced technology, ensuring its place as a formidable contender in the performance hatchback market.

Toyota GR Corolla 2025: new automatic transmission and performance upgrades

Japanese automaker Toyota Motor Company said on Thursday that its first-quarter net profit was up 17% due to efficient cost control and a favorable currency exchange rate. The company’s operating profit for the three month period to June stood at 1.3 trillion yen (USD 8.70 billion), which was in line with the USD 2.96 billion average estimate of six analysts polled by LSEG.

However, it is essential to note that while it posted a solid profit increase, the growth is the slowest in seven quarters, and investors were not happy with it. Toyota’s shares which started the week at over 5% below their previous closing declined to 2,712 yen, down by 8% from the earnings announcement at, 0529 GMT.

Until recently, Toyota share price benefited from its record profit run that was however magnified by the challenges currently affecting the auto maker such as tough market conditions in China, and the repercussions from its product certification scandal. The company recognized the fluctuation in production in Japan because of some certification problems and recalls but the company was able to make its profit increase by having strong support from its stakeholders.

Toyota’s overall retail sales dropped by 2% for the product and Lexus brand in the first three months of the year while petrol-electric hybrids were sold at approximately 40% of the total sales. Because of the slower sales of electric cars compared to hybrid cars in markets such as the United States, Toyota, as a market leader in hybrid technology continues to reap big.

The automaker has maintained its annual profit forecast at 4.3 trillion yen, falling short of the 5.3 trillion yen average predicted by 18 analysts. Toyota is also dealing with several issues, including a series of scandals related to flawed product certification procedures, which have tarnished its reputation for safety and quality. The transport ministry has mandated that Toyota implement significant measures to address these problems following the discovery of additional misconduct.

Furthermore, Toyota faces inventory challenges in the U.S., although improvements have been noted compared to the previous year, according to Masahiro Yamamoto, chief officer of Toyota's accounting group.

Japanese automaker Toyota Motor Company said on Thursday that its first-quarter net profit was up 17% due to efficient cost control and a favorable currency exchange rate.

Japanese automaker Toyota Motor Company said on Thursday that its first-quarter net profit was up 17% due to efficient cost control and a favorable currency exchange rate. The company’s operating profit for the three month period to June stood at 1.3 trillion yen (USD 8.70 billion), which was in line with the USD 2.96 billion average estimate of six analysts polled by LSEG. However, it is essential to note that while it posted a solid profit increase, the growth is the slowest in seven quarters, and investors were not happy with it. Toyota’s shares which started the week at over 5% below their previous closing declined to 2,712 yen, down by 8% from the earnings announcement at, 0529 GMT. Until recently, Toyota share price benefited from its record profit run that was however magnified by the challenges currently affecting the auto maker such as tough market conditions in China, and the repercussions from its product certification scandal. The company recognized the fluctuation in production in Japan because of some certification problems and recalls but the company was able to make its profit increase by having strong support from its stakeholders. Toyota’s overall retail sales dropped by 2% for the product and Lexus brand in the first three months of the year while petrol-electric hybrids were sold at approximately 40% of the total sales. Because of the slower sales of electric cars compared to hybrid cars in markets such as the United States, Toyota, as a market leader in hybrid technology continues to reap big. The automaker has maintained its annual profit forecast at 4.3 trillion yen, falling short of the 5.3 trillion yen average predicted by 18 analysts. Toyota is also dealing with several issues, including a series of scandals related to flawed product certification procedures, which have tarnished its reputation for safety and quality. The transport ministry has mandated that Toyota implement significant measures to address these problems following the discovery of additional misconduct. Furthermore, Toyota faces inventory challenges in the U.S., although improvements have been noted compared to the previous year, according to Masahiro Yamamoto, chief officer of Toyota's accounting group.

Toyota reports 17% Q1 profit increase, shares decline amid market challenges

Toyota Motor Chairman Akio Toyoda recently said that he might not be reappointed as a director for the company if the shareholder support erodes as it is doing at present. Speaking in an interview, Toyoda suggested that the 72 percent vote of confidence that he received during the company’s last annual general meeting, which is 13 percent decline in confidence as compared to the previous year, could harm his position.

This showed that approval of a Toyota director registered the lowest score ever from such support. The latest is even lower among the foreign institutional investors who gave Toyoda only 34% votes after ISS and Glass Lewis proxy advisory firms gave Them critical votes on how they manage certification testing violations.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/volkswagen-and-rivians-usd-5-bn-joint-venture-approved-by-german-antitrust-body-745416">Volkswagen and Rivian's USD 5 bn joint venture approved by German antitrust body</a>

Domestic institutional investor fund also declined to as low as 55% from over 70% of the previous year. Toyoda said this proved that many people must be dissatisfied with his leadership over the past one year. Still, he remained locally popular garnering a near 99% approval rating among the retail shareholders.

Toyota Motor Chairman Akio Toyoda recently said that he might not be reappointed as a director for the company if the shareholder support erodes as it is doing at present.

Toyota Motor Chairman Akio Toyoda recently said that he might not be reappointed as a director for the company if the shareholder support erodes as it is doing at present. Speaking in an interview, Toyoda suggested that the 72 percent vote of confidence that he received during the company’s last annual general meeting, which is 13 percent decline in confidence as compared to the previous year, could harm his position. This showed that approval of a Toyota director registered the lowest score ever from such support. The latest is even lower among the foreign institutional investors who gave Toyoda only 34% votes after ISS and Glass Lewis proxy advisory firms gave Them critical votes on how they manage certification testing violations. Also Read: Volkswagen and Rivian's USD 5 bn joint venture approved by German antitrust body Domestic institutional investor fund also declined to as low as 55% from over 70% of the previous year. Toyoda said this proved that many people must be dissatisfied with his leadership over the past one year. Still, he remained locally popular garnering a near 99% approval rating among the retail shareholders.

Toyota chairman warns he may lose board spot if investor support continues to fall

Toyota’s global production took a significant hit in June, marking its fifth consecutive month of decline. The downturn was primarily driven by a certification scandal in Japan and intensified competition in China. In June, Toyota’s global output plummeted by 12.9% to 795,862 vehicles, the steepest drop since December 2022. Production in Japan fell sharply by 18.8% following the discovery of irregularities in certification applications for various models, which has been linked to a broader auto safety scandal.

In China, Toyota faced a 21.7% reduction in production due to fierce competition from domestic electric vehicle manufacturers like BYD, who have aggressively slashed prices. This represents the fifth month in a row that Toyota’s output in China has decreased by over 20%. North American production declined by 6.2%, while European output dropped 6.6%, partly due to fewer production days compared to the previous year.&nbsp;

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Toyota’s global sales also fell by 5.1% in June, influenced by the declines in Japan and China. The automaker is set to announce its first-quarter financial results on Thursday, with expectations of a 21% increase in operating profit, reaching 1.35 trillion yen (USD 8.7 billion), according to LSEG consensus estimates. This anticipated growth is attributed to a weaker yen and strong demand for hybrid vehicles in the United States.

Over the first half of the year, Toyota’s global production decreased by 5%, while worldwide sales dipped by 0.9%. These figures include the performance of the luxury Lexus brand.

Toyota’s global production took a significant hit in June, marking its fifth consecutive month of decline. The downturn was primarily driven by a certification scandal in Japan and intensified competition in China.

Toyota’s global production took a significant hit in June, marking its fifth consecutive month of decline. The downturn was primarily driven by a certification scandal in Japan and intensified competition in China. In June, Toyota’s global output plummeted by 12.9% to 795,862 vehicles, the steepest drop since December 2022. Production in Japan fell sharply by 18.8% following the discovery of irregularities in certification applications for various models, which has been linked to a broader auto safety scandal. In China, Toyota faced a 21.7% reduction in production due to fierce competition from domestic electric vehicle manufacturers like BYD, who have aggressively slashed prices. This represents the fifth month in a row that Toyota’s output in China has decreased by over 20%. North American production declined by 6.2%, while European output dropped 6.6%, partly due to fewer production days compared to the previous year. Also Read: Volkswagen's EV ambitions face major delays amid software challenges Toyota’s global sales also fell by 5.1% in June, influenced by the declines in Japan and China. The automaker is set to announce its first-quarter financial results on Thursday, with expectations of a 21% increase in operating profit, reaching 1.35 trillion yen (USD 8.7 billion), according to LSEG consensus estimates. This anticipated growth is attributed to a weaker yen and strong demand for hybrid vehicles in the United States. Over the first half of the year, Toyota’s global production decreased by 5%, while worldwide sales dipped by 0.9%. These figures include the performance of the luxury Lexus brand.

Toyota global output skids in June, dragged down by Japan and China

Japan's leading automaker, Toyota Motor, plans to establish a state-of-the-art battery plant for electric vehicles (EVs) in Fukuoka Prefecture, located in the southwestern region of Kyushu. This move is part of Toyota's broader strategy to reinforce its EV supply chain and transform Kyushu into a central hub for battery-powered vehicle production and exports across Asia. This development was reported by the Nikkei business daily on Friday, though Toyota has yet to officially confirm the details.

Focus on EV Battery Production

Toyota aims to bolster its EV battery production capabilities through various initiatives. A company spokesperson acknowledged awareness of the Nikkei report but stated, "This is not something we have announced yet." Toyota has been proactively working to enhance its EV battery production capacity to meet the increasing global demand for electric vehicles.

Miyata Plant and Lexus Production

The new battery plant is expected to supply batteries to Toyota's Miyata plant, where luxury Lexus brand cars are manufactured. Toyota's subsidiary, Toyota Motor Kyushu, operates the Miyata plant. This strategic move aligns with Toyota's plans to introduce next-generation EVs from 2026, produced by its specialised unit, BEV Factory. By integrating the battery plant with the Lexus production facility, Toyota aims to streamline its operations and improve efficiency.

Ambitious Sales Targets for 2030

Toyota has set an ambitious target of selling 3.5 million EVs annually by 2030, with nearly half of these vehicles to be produced by the BEV Factory unit. In 2023, Toyota sold 104,000 EVs, indicating a significant ramp-up in production will be necessary to meet its future goals. The introduction of next-generation batteries is expected to play a crucial role in achieving these targets.

Primearth EV Energy to Operate the Plant

According to media reports, the new battery plant will be operated by Primearth EV Energy, a Toyota subsidiary that specialises in producing batteries for hybrids, plug-in hybrids, and purely battery-powered vehicles. This move underscores Toyota's commitment to leveraging its existing expertise in battery technology to support the transition to a fully electric future.

Uncertainty Around Investment and Timeline

While media reports highlights Toyota's plans for the new battery plant, details regarding the investment amount and the start date for construction remain unspecified. The newspaper did not disclose the source of its information, leaving some questions unanswered. However, the decision to establish a battery plant in Fukuoka reflects Toyota's proactive approach to addressing the growing demand for EVs and its strategic focus on expanding its production capacity in key regions.

Strategic Importance of Kyushu

Kyushu's selection as the site for the new battery plant is strategic. The island's location offers several advantages, including proximity to other key Asian markets and well-established logistics infrastructure. By making Kyushu a central part of its EV supply chain, Toyota can enhance its operational efficiency and reduce transportation costs, making its EVs more competitive in the global market.

Toyota's plans to build a new EV battery plant in Fukuoka mark a significant step in the automaker's journey towards electrification. The integration of this plant with the Miyata facility, where Lexus vehicles are produced, is expected to boost Toyota's production capabilities and support its ambitious sales targets for 2030. While some details remain unclear, the establishment of the battery plant underscores Toyota's commitment to innovation and its strategic focus on leading the global transition to electric mobility. As the world’s top-selling automaker, Toyota’s initiatives in Kyushu will likely have far-reaching implications for the EV industry and the broader automotive market.

(Inputs&nbsp;from Reuters)

Japan's leading automaker, Toyota Motor, plans to establish a state-of-the-art battery plant for electric vehicles (EVs) in Fukuoka Prefecture, located in the southwestern region of Kyushu.

Japan's leading automaker, Toyota Motor, plans to establish a state-of-the-art battery plant for electric vehicles (EVs) in Fukuoka Prefecture, located in the southwestern region of Kyushu. This move is part of Toyota's broader strategy to reinforce its EV supply chain and transform Kyushu into a central hub for battery-powered vehicle production and exports across Asia. This development was reported by the Nikkei business daily on Friday, though Toyota has yet to officially confirm the details. Focus on EV Battery Production Toyota aims to bolster its EV battery production capabilities through various initiatives. A company spokesperson acknowledged awareness of the Nikkei report but stated, "This is not something we have announced yet." Toyota has been proactively working to enhance its EV battery production capacity to meet the increasing global demand for electric vehicles. Miyata Plant and Lexus Production The new battery plant is expected to supply batteries to Toyota's Miyata plant, where luxury Lexus brand cars are manufactured. Toyota's subsidiary, Toyota Motor Kyushu, operates the Miyata plant. This strategic move aligns with Toyota's plans to introduce next-generation EVs from 2026, produced by its specialised unit, BEV Factory. By integrating the battery plant with the Lexus production facility, Toyota aims to streamline its operations and improve efficiency. Ambitious Sales Targets for 2030 Toyota has set an ambitious target of selling 3.5 million EVs annually by 2030, with nearly half of these vehicles to be produced by the BEV Factory unit. In 2023, Toyota sold 104,000 EVs, indicating a significant ramp-up in production will be necessary to meet its future goals. The introduction of next-generation batteries is expected to play a crucial role in achieving these targets. Primearth EV Energy to Operate the Plant According to media reports, the new battery plant will be operated by Primearth EV Energy, a Toyota subsidiary that specialises in producing batteries for hybrids, plug-in hybrids, and purely battery-powered vehicles. This move underscores Toyota's commitment to leveraging its existing expertise in battery technology to support the transition to a fully electric future. Uncertainty Around Investment and Timeline While media reports highlights Toyota's plans for the new battery plant, details regarding the investment amount and the start date for construction remain unspecified. The newspaper did not disclose the source of its information, leaving some questions unanswered. However, the decision to establish a battery plant in Fukuoka reflects Toyota's proactive approach to addressing the growing demand for EVs and its strategic focus on expanding its production capacity in key regions. Strategic Importance of Kyushu Kyushu's selection as the site for the new battery plant is strategic. The island's location offers several advantages, including proximity to other key Asian markets and well-established logistics infrastructure. By making Kyushu a central part of its EV supply chain, Toyota can enhance its operational efficiency and reduce transportation costs, making its EVs more competitive in the global market. Toyota's plans to build a new EV battery plant in Fukuoka mark a significant step in the automaker's journey towards electrification. The integration of this plant with the Miyata facility, where Lexus vehicles are produced, is expected to boost Toyota's production capabilities and support its ambitious sales targets for 2030. While some details remain unclear, the establishment of the battery plant underscores Toyota's commitment to innovation and its strategic focus on leading the global transition to electric mobility. As the world’s top-selling automaker, Toyota’s initiatives in Kyushu will likely have far-reaching implications for the EV industry and the broader automotive market. (Inputs from Reuters)

Toyota to build EV battery plant in Fukuoka to boost Lexus production

Toyota, despite its cautious approach to fully electric vehicles, appears to be adapting to the changing automotive landscape. The company has announced that it will open Lexus charging stations to other electric vehicle (EV) brands in Japan, a strategy reminiscent of Tesla's approach in the United States and globally.

Lexus, Toyota's luxury brand, launched its first "rapid charging station" in Tokyo Midtown Hibiya in June 2023 as part of the Lexus Electrified Program. The initiative expanded with a second station at Karuiza Common Grounds in December 2023. These Lexus charging stations feature quick chargers capable of delivering up to 150 kW maximum power, allowing for rapid recharging similar to Tesla's Supercharger network.

For comparison, Tesla's Superchargers can provide up to 250 kW peak charging rates. Tesla has also confirmed that its upcoming V4 Supercharger will support up to 350 kW output, although it's currently capped at 250 kW.

Initially, Lexus charging stations were exclusive to Lexus owners, who could reserve charging spots up to 60 days in advance through the My Lexus app. The system offered a seamless payment experience similar to Tesla's Superchargers. Additionally, Lexus provided extra amenities such as complimentary drinks, workspaces, and discounts on nearby services.

However, Toyota has now decided to open these Lexus charging stations to all EV owners, regardless of brand. This move mirrors Tesla's strategy of opening its Supercharger network to other EV manufacturers.&nbsp;

In May 2023, Ford became the first automaker to announce plans to adopt Tesla's North American Charging Standard (NACS) adapter, with nearly all other car manufacturers, including Toyota and Lexus, following suit to gain access to Tesla's extensive Supercharger network in the United States.

It's worth noting the significant difference in scale between the two networks. Tesla boasts over 15,000 Superchargers in the US and Canada, and more than 50,000 globally. In contrast, Lexus aims to have approximately 100 charging stations in Japan by 2030.

Despite this move towards more open charging infrastructure, Toyota and Lexus continue to lag behind in the industry-wide shift to electric vehicles. In the first four months of 2024, Toyota, including its Lexus brand, sold 46,033 EVs globally. This figure represents only 3.4 per cent of Toyota's total car sales of 1.3 million during the same period, highlighting the company's continued reliance on traditional powertrains and hybrid technology.

This development suggests that while Toyota is taking steps to adapt to the growing EV market, it still has a considerable journey ahead to catch up with competitors who have more aggressively embraced full electrification.&nbsp;

Toyota, despite its cautious approach to fully electric vehicles, appears to be adapting to the changing automotive landscape. The company has announced that it will open Lexus charging stations to other electric vehicle (EV) brands in Japan, a strategy reminiscent of Tesla's approach in the United States and globally.

Toyota, despite its cautious approach to fully electric vehicles, appears to be adapting to the changing automotive landscape. The company has announced that it will open Lexus charging stations to other electric vehicle (EV) brands in Japan, a strategy reminiscent of Tesla's approach in the United States and globally. Lexus, Toyota's luxury brand, launched its first "rapid charging station" in Tokyo Midtown Hibiya in June 2023 as part of the Lexus Electrified Program. The initiative expanded with a second station at Karuiza Common Grounds in December 2023. These Lexus charging stations feature quick chargers capable of delivering up to 150 kW maximum power, allowing for rapid recharging similar to Tesla's Supercharger network. For comparison, Tesla's Superchargers can provide up to 250 kW peak charging rates. Tesla has also confirmed that its upcoming V4 Supercharger will support up to 350 kW output, although it's currently capped at 250 kW. Initially, Lexus charging stations were exclusive to Lexus owners, who could reserve charging spots up to 60 days in advance through the My Lexus app. The system offered a seamless payment experience similar to Tesla's Superchargers. Additionally, Lexus provided extra amenities such as complimentary drinks, workspaces, and discounts on nearby services. However, Toyota has now decided to open these Lexus charging stations to all EV owners, regardless of brand. This move mirrors Tesla's strategy of opening its Supercharger network to other EV manufacturers. In May 2023, Ford became the first automaker to announce plans to adopt Tesla's North American Charging Standard (NACS) adapter, with nearly all other car manufacturers, including Toyota and Lexus, following suit to gain access to Tesla's extensive Supercharger network in the United States. It's worth noting the significant difference in scale between the two networks. Tesla boasts over 15,000 Superchargers in the US and Canada, and more than 50,000 globally. In contrast, Lexus aims to have approximately 100 charging stations in Japan by 2030. Despite this move towards more open charging infrastructure, Toyota and Lexus continue to lag behind in the industry-wide shift to electric vehicles. In the first four months of 2024, Toyota, including its Lexus brand, sold 46,033 EVs globally. This figure represents only 3.4 per cent of Toyota's total car sales of 1.3 million during the same period, highlighting the company's continued reliance on traditional powertrains and hybrid technology. This development suggests that while Toyota is taking steps to adapt to the growing EV market, it still has a considerable journey ahead to catch up with competitors who have more aggressively embraced full electrification.

After Tesla, Toyota opens Lexus charging stations to other EVs

In what could be termed as a setback in the history of Toyota Motor Corporation, support from shareholders for Chairman Akio Toyoda hit its lowest level since the company began disclosing vote breakdowns in 2010. At Wednesday's annual general meeting, Toyoda garnered 72 per cent support, sliding drastically from 85 per cent in the previous year and 96 per cent in 2022-a clear indication that investors are turning increasingly flustered by certification scandals and poor corporate governance at the world's largest automaker.&nbsp;

Toyoda, who is the grandson of the company's founder, usually breezes to victory with strong support from shareholders. But on Friday, that trend appeared to change with the vote, indicating more U.S. corporate governance among rising practices in Japan.&nbsp;

The reduced support comes on the back of a recommendation by leading proxy advisory firms, Institutional Shareholder Services and Glass Lewis. Both companies advised against the re-election of Toyoda based on how the company handled ongoing certification testing violations that implicated Toyota and its subsidiaries, including compact car manufacturer Daihatsu. These violations raise serious questions over its governance and transparency.&nbsp;

It had also cited concerns over the independence of the board and return on equity. Glass Lewis, had recommended voting against Toyoda for the second time in a row. The falling approval rate reflects foreign investors, who make up around 25 per cent of Toyota's shareholders. Major institutional investors such as U.S. public pension fund CalPERS and Canadian pension fund CPP Investments were among those that voted against Toyoda.&nbsp;

In response to the shareholder vote, Toyota issued an announcement that respected the sentiments of institutional investors by indicating a move toward more board independence, with clearly defined roles of outside executives and the redefinition of criteria for assessing independence. Besides, it announced selling cross-shareholdings, which are criticised for creating a too-cosy relationship between management and shareholders, hence weakening governance.&nbsp;

According to James Hong, head of mobility research at Macquarie, the focus on governance and holding structure is likely to be sharpened. Shareholders are seeking more radical changes more quickly.&nbsp;

In contrast, the controversy never put Toyoda in serious jeopardy of not being re-elected, firmly secured through large shareholdings by other Toyota group firms, a record business performance, and his popularity among Japanese retail investors. Toyota has also been under attack for its supposedly slow pace of transition to battery electric vehicles. Its so-called "multi-pathway" strategy, on the other hand, has been beneficial with big bets placed on hybrids and hydrogen fuel cells. Strong hybrid sales helped the company out last year as growth in the fast-growing battery EV market was slowed down by high prices and worries over charging infrastructure.&nbsp;

The shares of Toyota have lost 9 per cent since early June, when the certification testing violations first came to light. It is, however, still up 20 per cent this year-an eloquent fact that speaks to its intrinsic strengths. This vote of shareholders is an unequivocal cry for better governance and transparency at Toyota. As the company works through such pressures, it will be forced to strike a balance between those traditional strengths and the changing expectations of its global investor base.&nbsp;

In what could be termed as a setback in the history of Toyota Motor Corporation, support from shareholders for Chairman Akio Toyoda hit its lowest level since the company began disclosing vote breakdowns in 2010.

In what could be termed as a setback in the history of Toyota Motor Corporation, support from shareholders for Chairman Akio Toyoda hit its lowest level since the company began disclosing vote breakdowns in 2010. At Wednesday's annual general meeting, Toyoda garnered 72 per cent support, sliding drastically from 85 per cent in the previous year and 96 per cent in 2022-a clear indication that investors are turning increasingly flustered by certification scandals and poor corporate governance at the world's largest automaker. Toyoda, who is the grandson of the company's founder, usually breezes to victory with strong support from shareholders. But on Friday, that trend appeared to change with the vote, indicating more U.S. corporate governance among rising practices in Japan. The reduced support comes on the back of a recommendation by leading proxy advisory firms, Institutional Shareholder Services and Glass Lewis. Both companies advised against the re-election of Toyoda based on how the company handled ongoing certification testing violations that implicated Toyota and its subsidiaries, including compact car manufacturer Daihatsu. These violations raise serious questions over its governance and transparency. It had also cited concerns over the independence of the board and return on equity. Glass Lewis, had recommended voting against Toyoda for the second time in a row. The falling approval rate reflects foreign investors, who make up around 25 per cent of Toyota's shareholders. Major institutional investors such as U.S. public pension fund CalPERS and Canadian pension fund CPP Investments were among those that voted against Toyoda. In response to the shareholder vote, Toyota issued an announcement that respected the sentiments of institutional investors by indicating a move toward more board independence, with clearly defined roles of outside executives and the redefinition of criteria for assessing independence. Besides, it announced selling cross-shareholdings, which are criticised for creating a too-cosy relationship between management and shareholders, hence weakening governance. According to James Hong, head of mobility research at Macquarie, the focus on governance and holding structure is likely to be sharpened. Shareholders are seeking more radical changes more quickly. In contrast, the controversy never put Toyoda in serious jeopardy of not being re-elected, firmly secured through large shareholdings by other Toyota group firms, a record business performance, and his popularity among Japanese retail investors. Toyota has also been under attack for its supposedly slow pace of transition to battery electric vehicles. Its so-called "multi-pathway" strategy, on the other hand, has been beneficial with big bets placed on hybrids and hydrogen fuel cells. Strong hybrid sales helped the company out last year as growth in the fast-growing battery EV market was slowed down by high prices and worries over charging infrastructure. The shares of Toyota have lost 9 per cent since early June, when the certification testing violations first came to light. It is, however, still up 20 per cent this year-an eloquent fact that speaks to its intrinsic strengths. This vote of shareholders is an unequivocal cry for better governance and transparency at Toyota. As the company works through such pressures, it will be forced to strike a balance between those traditional strengths and the changing expectations of its global investor base.

Akio Toyoda faces historic low support amid governance issues at Toyota

Toyota Chairman Akio Toyoda is set to face a challenging shareholders' meeting this week as two prominent proxy advisory groups call for a vote against his reappointment. The upcoming June 18 meeting follows Toyota's recent apology for fraudulent vehicle certification tests, a significant blow to the company's reputation for high quality. Despite no safety issues or recalls reported, Toyota has halted production of three models manufactured by its group companies in Japan.&nbsp;

Toyota's stock, which had tripled over the past five years to nearly 3,800 yen ($24), has recently dropped to just over 3,000 yen ($20), erasing about 3 trillion yen ($18 billion) in market value.&nbsp;

Institutional Shareholder Services (ISS), majority owned by Deutsche Borse Group, has advised investors to vote against Toyoda's reappointment, citing his ultimate accountability for the scandal. ISS criticised the lack of board reshuffling and expressed doubts about the company’s commitment to preventing future issues. “The company’s propensity to preserve its corporate culture is in fact suspected, and Toyoda should be held accountable for that,” ISS stated.&nbsp;

Glass Lewis &amp; Co., another influential proxy advisory firm, echoed this sentiment. It recommended voting against both Toyoda and Shigeru Hayakawa, another senior executive. The firm highlighted failures in maintaining internal controls and implementing effective governance measures across Toyota’s group companies. Glass Lewis also called for more independent board members and increased transparency in Toyota’s lobbying efforts on climate change. &nbsp;

Despite the scandals, Akio Toyoda is not expected to be ousted at the shareholders' meeting, which will take place at Toyota's headquarters in the city named after the automaker. The largest of Toyota’s nearly 1 million shareholders are Japanese banks and financial institutions that typically support the company. Toyota Industries, a group company, is the second-largest shareholder.&nbsp;

Under Toyoda's leadership, Toyota has advocated for a "multi-pathway" approach to environmentally friendly vehicles, focusing on hybrids and hydrogen fuel rather than solely on battery electric vehicles. Despite this strategy, Toyota has faced criticism for lagging in the EV market. Nonetheless, the company remains the world’s leading automaker, with sales of 9.4 million vehicles in the fiscal year ending in March.&nbsp;

According to some financial professionals, the recent scandals are expected to leave only a limited impression on Toyota in the long run. Aaron Ho, equity analyst at CFRA Research, indicates that the problems only made a "soft hit" in the corporation’s finances. He pointed out that the considerable halt in production is likely to be temporary and the company's management or culture are fine. &nbsp;

Toyota reported a doubling of profits in the fiscal year ending in March, reaching $31.9 billion, surpassing its projections. This growth was driven by a surge in vehicle sales and the benefit of a weaker yen.

Toyota Chairman Akio Toyoda is set to face a challenging shareholders' meeting this week as two prominent proxy advisory groups call for a vote against his reappointment.

Toyota Chairman Akio Toyoda is set to face a challenging shareholders' meeting this week as two prominent proxy advisory groups call for a vote against his reappointment. The upcoming June 18 meeting follows Toyota's recent apology for fraudulent vehicle certification tests, a significant blow to the company's reputation for high quality. Despite no safety issues or recalls reported, Toyota has halted production of three models manufactured by its group companies in Japan. Toyota's stock, which had tripled over the past five years to nearly 3,800 yen ($24), has recently dropped to just over 3,000 yen ($20), erasing about 3 trillion yen ($18 billion) in market value. Institutional Shareholder Services (ISS), majority owned by Deutsche Borse Group, has advised investors to vote against Toyoda's reappointment, citing his ultimate accountability for the scandal. ISS criticised the lack of board reshuffling and expressed doubts about the company’s commitment to preventing future issues. “The company’s propensity to preserve its corporate culture is in fact suspected, and Toyoda should be held accountable for that,” ISS stated. Glass Lewis & Co., another influential proxy advisory firm, echoed this sentiment. It recommended voting against both Toyoda and Shigeru Hayakawa, another senior executive. The firm highlighted failures in maintaining internal controls and implementing effective governance measures across Toyota’s group companies. Glass Lewis also called for more independent board members and increased transparency in Toyota’s lobbying efforts on climate change. Despite the scandals, Akio Toyoda is not expected to be ousted at the shareholders' meeting, which will take place at Toyota's headquarters in the city named after the automaker. The largest of Toyota’s nearly 1 million shareholders are Japanese banks and financial institutions that typically support the company. Toyota Industries, a group company, is the second-largest shareholder. Under Toyoda's leadership, Toyota has advocated for a "multi-pathway" approach to environmentally friendly vehicles, focusing on hybrids and hydrogen fuel rather than solely on battery electric vehicles. Despite this strategy, Toyota has faced criticism for lagging in the EV market. Nonetheless, the company remains the world’s leading automaker, with sales of 9.4 million vehicles in the fiscal year ending in March. According to some financial professionals, the recent scandals are expected to leave only a limited impression on Toyota in the long run. Aaron Ho, equity analyst at CFRA Research, indicates that the problems only made a "soft hit" in the corporation’s finances. He pointed out that the considerable halt in production is likely to be temporary and the company's management or culture are fine. Toyota reported a doubling of profits in the fiscal year ending in March, reaching $31.9 billion, surpassing its projections. This growth was driven by a surge in vehicle sales and the benefit of a weaker yen.

Toyota chairman faces showdown amid scandal fallout

Bronstein, Gewirtz &amp; Grossman, LLC, a law firm that focuses on securities litigation, has commenced an investigation regarding the securities of Toyota Motor Corp. Consumers have been advised to obtain more information and help authorities in the investigation by visiting the firm’s homepage. This investigation stems from a recent event described in the New York Times article published on June 3, entitled ‘ Toyota and Other Japanese Carmakers Say They Mishandled Safety Tests.’&nbsp;

As reported in the article, Toyota Motor and other Japanese automakers have exposed themselves to critique as they admitted that they fudged tests for multiple models in the last ten years based on reports from their internal investigations. Notably, Toyota announced its inability to collect adequate data on pedestrian and occupant safety tests for three models namely Yaris Cross sport utility vehicle and two other models.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/stellantis-clarifies-stance-on-citroen-airbag-recalls-amid-safety-concerns-729235">Stellantis clarifies stance on Citroen airbag recalls amid safety concerns</a>

Toyota acknowledged that its methods deviated from those approved by the Japanese government and admitted to failing to collect data during pedestrian and occupant safety testing. Additionally, it identified issues and errors in crash testing for four discontinued models, including the Isis and Sienta.

In reaction to this news, Toyota American Depositary Shares (“ADSs”) experienced a decline of USD 5.34 per ADS, representing a 2.5% decrease, closing at USD 212.17 on June 3.

Those who purchased Toyota securities and who wish to aid the investigation have been urged to contact Bronstein, Gewirtz &amp; Grossman, LLC through their website. The firm intends to search for any legal actions that might arise from such exposures and fight for the rights of the investors.

Japan’s automotive industry has been under pressure in the current financial year particularly after Daihatsu, which is an affiliate of Toyota Motor Corporation, confessed to manipulating collision tests on some 88,000 units in the previous year. In December, a certain probe discovered that the manufacturers, particularly Toyota, had engaged in cheating on testing for as many as 64 models, which forced Toyota to close a factory for some time and change its management.

We present these scandals as saddening episodes that have negatively impacted the image of the Japanese automotive industry known for its excellent production and quality assurance systems. Therefore, a number of firms have reported slow feedback at home in latest period due to direct impact of mishandled testing.

Bronstein, Gewirtz & Grossman, LLC, a law firm that focuses on securities litigation, has commenced an investigation regarding the securities of Toyota Motor Corp.

Bronstein, Gewirtz & Grossman, LLC, a law firm that focuses on securities litigation, has commenced an investigation regarding the securities of Toyota Motor Corp. Consumers have been advised to obtain more information and help authorities in the investigation by visiting the firm’s homepage. This investigation stems from a recent event described in the New York Times article published on June 3, entitled ‘ Toyota and Other Japanese Carmakers Say They Mishandled Safety Tests.’ As reported in the article, Toyota Motor and other Japanese automakers have exposed themselves to critique as they admitted that they fudged tests for multiple models in the last ten years based on reports from their internal investigations. Notably, Toyota announced its inability to collect adequate data on pedestrian and occupant safety tests for three models namely Yaris Cross sport utility vehicle and two other models. Also Read: Stellantis clarifies stance on Citroen airbag recalls amid safety concerns Toyota acknowledged that its methods deviated from those approved by the Japanese government and admitted to failing to collect data during pedestrian and occupant safety testing. Additionally, it identified issues and errors in crash testing for four discontinued models, including the Isis and Sienta. In reaction to this news, Toyota American Depositary Shares (“ADSs”) experienced a decline of USD 5.34 per ADS, representing a 2.5% decrease, closing at USD 212.17 on June 3. Those who purchased Toyota securities and who wish to aid the investigation have been urged to contact Bronstein, Gewirtz & Grossman, LLC through their website. The firm intends to search for any legal actions that might arise from such exposures and fight for the rights of the investors. Japan’s automotive industry has been under pressure in the current financial year particularly after Daihatsu, which is an affiliate of Toyota Motor Corporation, confessed to manipulating collision tests on some 88,000 units in the previous year. In December, a certain probe discovered that the manufacturers, particularly Toyota, had engaged in cheating on testing for as many as 64 models, which forced Toyota to close a factory for some time and change its management. We present these scandals as saddening episodes that have negatively impacted the image of the Japanese automotive industry known for its excellent production and quality assurance systems. Therefore, a number of firms have reported slow feedback at home in latest period due to direct impact of mishandled testing.

Toyota Motor Investigation: Investors encouraged to seek compensation

Toyota Motor Corporation is strengthening its presence in the United States with a significant expansion of its Huntsville, Alabama manufacturing facility. The company has announced a USD 282 million investment to enhance the plant's production capabilities, adding new lines for drivetrain products. This move will create more than 350 new, high-quality jobs, reinforcing Toyota's commitment to reinvesting profits in its U.S. operations and fostering long-term stability for its workforce.

The Huntsville plant, already a powerhouse in engine production, has become a crucial component of Toyota's North American manufacturing footprint. With this latest investment, the total capital injected into Toyota Alabama will exceed USD 1.7 billion, underscoring the company's confidence in the region's skilled workforce and business-friendly environment.

Jason Puckett, President of Toyota Alabama, expressed his enthusiasm for the expansion, stating, "Thanks to our Alabama team members' daily commitment to quality and continuous improvement, we know they can rise to the challenge of all-new production lines. The new lines will further increase the plant's flexibility and reaffirm Toyota's commitment to our team and community."

Currently, Toyota Alabama is the company's largest engine producer in North America, employing over 2,000 dedicated team members who assembled more than 770,000 engines in 2023 alone. The plant supplies engines to seven Toyota vehicle plants across the continent, powering popular models such as the Corolla, Corolla Cross, Highlander, RAV4, Sequoia, Sienna, Tacoma, and Tundra.

Marcus Calhoun, a Toyota Alabama team leader, shared his excitement about the expansion, saying, "I've been a part of building high-quality Toyota engines for eight years, and I'm excited for the opportunity to bring new products to our plant. Toyota was my first job in manufacturing, and now I lead my own team. I'm ready to help both current and future team members learn the skills they'll need for this project."

Governor Kay Ivey of Alabama welcomed Toyota's investment, stating, "Toyota has been a bedrock company within Alabama's growing auto industry for over two decades, launching multiple expansions that have increased the Huntsville facility's production capabilities and its superb workforce. This new investment project will build on the great legacy of Toyota's Alabama engine plant and create even more new opportunities for the area's citizens."

With this expansion, Toyota reinforces its commitment to the U.S. market and demonstrates its confidence in the skills and dedication of its Alabama workforce. The additional jobs and production capacity will further solidify the company's position as a leading automotive manufacturer in North America while contributing to the economic growth and development of the region. 
&nbsp;

Toyota Motor Corporation is strengthening its presence in the United States with a significant expansion of its Huntsville, Alabama manufacturing facility. The company has announced a USD 282 million investment to enhance the plant's production capabilities, adding new lines for drivetrain products.

Toyota Motor Corporation is strengthening its presence in the United States with a significant expansion of its Huntsville, Alabama manufacturing facility. The company has announced a USD 282 million investment to enhance the plant's production capabilities, adding new lines for drivetrain products. This move will create more than 350 new, high-quality jobs, reinforcing Toyota's commitment to reinvesting profits in its U.S. operations and fostering long-term stability for its workforce. The Huntsville plant, already a powerhouse in engine production, has become a crucial component of Toyota's North American manufacturing footprint. With this latest investment, the total capital injected into Toyota Alabama will exceed USD 1.7 billion, underscoring the company's confidence in the region's skilled workforce and business-friendly environment. Jason Puckett, President of Toyota Alabama, expressed his enthusiasm for the expansion, stating, "Thanks to our Alabama team members' daily commitment to quality and continuous improvement, we know they can rise to the challenge of all-new production lines. The new lines will further increase the plant's flexibility and reaffirm Toyota's commitment to our team and community." Currently, Toyota Alabama is the company's largest engine producer in North America, employing over 2,000 dedicated team members who assembled more than 770,000 engines in 2023 alone. The plant supplies engines to seven Toyota vehicle plants across the continent, powering popular models such as the Corolla, Corolla Cross, Highlander, RAV4, Sequoia, Sienna, Tacoma, and Tundra. Marcus Calhoun, a Toyota Alabama team leader, shared his excitement about the expansion, saying, "I've been a part of building high-quality Toyota engines for eight years, and I'm excited for the opportunity to bring new products to our plant. Toyota was my first job in manufacturing, and now I lead my own team. I'm ready to help both current and future team members learn the skills they'll need for this project." Governor Kay Ivey of Alabama welcomed Toyota's investment, stating, "Toyota has been a bedrock company within Alabama's growing auto industry for over two decades, launching multiple expansions that have increased the Huntsville facility's production capabilities and its superb workforce. This new investment project will build on the great legacy of Toyota's Alabama engine plant and create even more new opportunities for the area's citizens." With this expansion, Toyota reinforces its commitment to the U.S. market and demonstrates its confidence in the skills and dedication of its Alabama workforce. The additional jobs and production capacity will further solidify the company's position as a leading automotive manufacturer in North America while contributing to the economic growth and development of the region.

Toyota Alabama expands with USD 282 million investment

Revived in 2019, the current Supra—essentially a fixed-roof Z4 donning a Toyota badge—brought back a legendary nameplate. The Supra previously enjoyed a successful four-generation run from 1978 to 2002. Magna Steyr's role in the story is significant, as this high-volume manufacturer has churned out millions of vehicles for various car companies over the past century. However, with the BMW partnership dissolving, the fate of the Supra hinges on Toyota's next move.

Sales figures paint a potentially challenging picture. Since its return, the Supra has only amassed roughly 24,000 buyers in the US, with a reported 50% sales slump this year alone. The departure of former CEO Akio Toyoda, a fervent advocate for sports car development within Toyota, further muddies the waters. Without his influence, the focus might shift away from low-volume sports cars like the Supra.

Developing an entirely new platform and engine in-house would be a substantial financial undertaking for Toyota, especially considering the dwindling sales figures. Toyota has remained tight-lipped on the Supra's future, with a company spokesperson offering a noncommittal response to inquiries: "We have nothing to share at this time."

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/ferrari-and-pirelli-announce-new-tyres-for-the-enzo-ferrari-supercar-728989">Ferrari and Pirelli announce new tyres for the Enzo Ferrari supercar</a>

A sliver of hope emerged from a separate statement by Toyota group vice president Dave Christ. His declaration—"I think if we want to build something, we'll figure out how to build it"—offered a hint of optimism.

Whether Toyota will forge a new partnership to keep the Supra nameplate alive or choose to let it rest remains to be seen. However, Christ's statement suggests that the company isn't necessarily closing the door on the Supra. Perhaps they'll explore an entirely new direction, partner with a different manufacturer, or even decide to develop everything in-house if deemed financially viable. 
&nbsp;

Revived in 2019, the current Supra—essentially a fixed-roof Z4 donning a Toyota badge—brought back a legendary nameplate. The Supra previously enjoyed a successful four-generation run from 1978 to 2002.

Revived in 2019, the current Supra—essentially a fixed-roof Z4 donning a Toyota badge—brought back a legendary nameplate. The Supra previously enjoyed a successful four-generation run from 1978 to 2002. Magna Steyr's role in the story is significant, as this high-volume manufacturer has churned out millions of vehicles for various car companies over the past century. However, with the BMW partnership dissolving, the fate of the Supra hinges on Toyota's next move. Sales figures paint a potentially challenging picture. Since its return, the Supra has only amassed roughly 24,000 buyers in the US, with a reported 50% sales slump this year alone. The departure of former CEO Akio Toyoda, a fervent advocate for sports car development within Toyota, further muddies the waters. Without his influence, the focus might shift away from low-volume sports cars like the Supra. Developing an entirely new platform and engine in-house would be a substantial financial undertaking for Toyota, especially considering the dwindling sales figures. Toyota has remained tight-lipped on the Supra's future, with a company spokesperson offering a noncommittal response to inquiries: "We have nothing to share at this time." Also Read: Ferrari and Pirelli announce new tyres for the Enzo Ferrari supercar A sliver of hope emerged from a separate statement by Toyota group vice president Dave Christ. His declaration—"I think if we want to build something, we'll figure out how to build it"—offered a hint of optimism. Whether Toyota will forge a new partnership to keep the Supra nameplate alive or choose to let it rest remains to be seen. However, Christ's statement suggests that the company isn't necessarily closing the door on the Supra. Perhaps they'll explore an entirely new direction, partner with a different manufacturer, or even decide to develop everything in-house if deemed financially viable.

Toyota Supra future uncertain amid BMW Z4 discontinuation

Toyota has announced a recall of approximately 100,000 vehicles due to potential engine stalling or failure caused by loose debris inside the engine. The National Highway Traffic Safety Administration (NHTSA) revealed the details of the recall last week.

Vehicles under recall

The recall involves around 3,500 Lexus LX SUVs manufactured in 2022 and 2023, along with nearly 100,000 Toyota Tundra pickup trucks from the same period. These vehicles were built with V35A engines, which may not have been thoroughly cleared of manufacturing debris during assembly. This oversight could result in engine damage if the debris becomes loose.

Manufacturing oversight and implications

The problem, identified in March 2022 following reports of engine failures, has been rectified in later models. However, vehicles already on the road need to be recalled to address the issue. The NHTSA report stated that loose debris could cause "potential engine knocking, rough running, no start, and/or an engine stall."

Potential solutions and next steps

The recall report does not specify the exact solution to the problem, but it suggests that affected vehicles might need their engines disassembled to remove any debris. Toyota will cover the cost of any necessary repairs. Vehicle owners will receive official recall notices by the end of next month.

Also read:&nbsp;<a href="https://www.wionews.com/autonews/us-governments-ev-push-faces-backlash-over-unintended-consequences-728497">U.S. government's EV push faces backlash over unintended consequences</a>

No reported injuries or fatalities

The NHTSA confirmed that there have been no reported injuries or fatalities linked to the defect. The recall is a precautionary measure to prevent potential engine damage and ensure vehicle safety.

Importance of addressing engine issues

Engine debris can significantly affect vehicle performance and safety. This recall underscores the importance of thorough quality control in manufacturing processes. Engine debris can lead to serious mechanical issues, and early detection and rectification are crucial.

Owner notification and action

Owners of the affected Lexus LX and Toyota Tundra models should stay alert for the official recall notice. Once received, they should promptly arrange for their vehicle inspection and necessary repairs at authorised Toyota service centres. Ensuring that these steps are taken will help maintain the vehicle's performance and safety.

Toyota's recall of 100,000 vehicles highlights a critical issue with engine debris that could cause significant problems. The recall aims to address this issue proactively, ensuring the safety and reliability of the affected Lexus LX and Toyota Tundra models. Vehicle owners should be attentive to recall notices and take necessary actions to resolve the issue.

(Inputs from Reuters)

Toyota has announced a recall of approximately 100,000 vehicles due to potential engine stalling or failure caused by loose debris inside the engine. The National Highway Traffic Safety Administration (NHTSA) revealed the details of the recall last week.

Toyota has announced a recall of approximately 100,000 vehicles due to potential engine stalling or failure caused by loose debris inside the engine. The National Highway Traffic Safety Administration (NHTSA) revealed the details of the recall last week. Vehicles under recall The recall involves around 3,500 Lexus LX SUVs manufactured in 2022 and 2023, along with nearly 100,000 Toyota Tundra pickup trucks from the same period. These vehicles were built with V35A engines, which may not have been thoroughly cleared of manufacturing debris during assembly. This oversight could result in engine damage if the debris becomes loose. Manufacturing oversight and implications The problem, identified in March 2022 following reports of engine failures, has been rectified in later models. However, vehicles already on the road need to be recalled to address the issue. The NHTSA report stated that loose debris could cause "potential engine knocking, rough running, no start, and/or an engine stall." Potential solutions and next steps The recall report does not specify the exact solution to the problem, but it suggests that affected vehicles might need their engines disassembled to remove any debris. Toyota will cover the cost of any necessary repairs. Vehicle owners will receive official recall notices by the end of next month. Also read: U.S. government's EV push faces backlash over unintended consequences No reported injuries or fatalities The NHTSA confirmed that there have been no reported injuries or fatalities linked to the defect. The recall is a precautionary measure to prevent potential engine damage and ensure vehicle safety. Importance of addressing engine issues Engine debris can significantly affect vehicle performance and safety. This recall underscores the importance of thorough quality control in manufacturing processes. Engine debris can lead to serious mechanical issues, and early detection and rectification are crucial. Owner notification and action Owners of the affected Lexus LX and Toyota Tundra models should stay alert for the official recall notice. Once received, they should promptly arrange for their vehicle inspection and necessary repairs at authorised Toyota service centres. Ensuring that these steps are taken will help maintain the vehicle's performance and safety. Toyota's recall of 100,000 vehicles highlights a critical issue with engine debris that could cause significant problems. The recall aims to address this issue proactively, ensuring the safety and reliability of the affected Lexus LX and Toyota Tundra models. Vehicle owners should be attentive to recall notices and take necessary actions to resolve the issue. (Inputs from Reuters)

Toyota recalls 100,000 vehicles over engine debris concerns

Toyota and Mazda have suspended shipments of some vehicles after Japan's transport ministry found irregularities in their certification applications. This development widens the safety test scandal that has plagued Japanese automakers, including Honda, Suzuki, and Yamaha.

Irregularities in certification

The Japanese transport ministry uncovered that several automakers submitted incorrect or manipulated test data for vehicle certification. As a result, Toyota, Mazda, and Yamaha were ordered to halt shipments of certain vehicles. An on-site inspection is scheduled at Toyota's headquarters in Aichi Prefecture to further investigate the matter.

A broader impact on the industry

The scandal's roots trace back to January, when the ministry requested automakers to review their certification applications following a similar issue at Toyota's Daihatsu unit. This scrutiny has now expanded, revealing more widespread irregularities across the industry. The ministry's findings have put a spotlight on the practices of these automakers, raising concerns about the integrity of vehicle certification processes.

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Leadership under scrutiny

The timing of these revelations is particularly sensitive as Toyota approaches its annual general meeting. Influential proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis have recommended shareholders vote against re-electing Akio Toyoda as chairman. ISS's report highlighted the recurring certification irregularities within the Toyota Group as a significant concern.

Apologies and temporary halts

At a press conference, Akio Toyoda, grandson of the automaker's founder, apologised for the misconduct. He acknowledged that the cars did not undergo the correct certification process before being sold. Toyota has temporarily halted shipments and sales of three car models made in Japan: the Corolla Fielder, Corolla Axio, and Yaris Cross.

Toyoda stated, "As the person in charge of the Toyota Group, I sincerely apologise to our customers, car enthusiasts, and all stakeholders for this." He assured that there were no performance issues contravening laws and regulations, so customers do not need to stop using their vehicles.

Government reaction

Japan's top government spokesperson, Yoshimasa Hayashi, expressed regret over the misconduct, noting that it tarnishes the government's efforts to promote corporate reforms. The scandal has not only affected the reputation of the automakers but also brought into question the effectiveness of regulatory oversight.

Financial impact

The financial markets responded negatively to the news. Toyota's shares closed down 1.8%, underperforming a 0.9% gain in the broader Topix index. Mazda's shares fell by 3.3%, reflecting investor concerns about the broader implications of the scandal.

Specific issues at Mazda

Mazda has been found to have tampered with engine control software test results and crash tests for the Roadster RF sports car and Mazda2 hatchback. The company also discovered that crash tests for the discontinued Atenza and Axela models were manipulated using a timer to set off airbags during frontal collision tests, instead of the on-board sensor.

Yamaha and Honda also affected

Yamaha has halted shipments of a sports motorcycle due to similar irregularities. Honda reported that it found misconduct in noise and output tests over more than eight years on some two dozen models no longer in production. This prolonged period of non-compliance further underscores the need for stricter oversight and transparency in the certification process.

Continuing investigations

Toyota is still investigating issues related to vehicle fuel efficiency and emissions, with a target to complete the inquiry by the end of June. This ongoing investigation indicates that the full extent of the irregularities may not yet be known, and further repercussions could follow as more details emerge.

The widening safety test scandal involving Toyota, Mazda, and other Japanese automakers underscores significant flaws in the certification process. The impact of these irregularities is profound, affecting corporate reputations, financial markets, and consumer trust. As the industry grapples with the fallout, there is an urgent need for improved transparency and stricter regulatory oversight to prevent such issues in the future.

(Inputs from Reuters)

Toyota and Mazda have suspended shipments of some vehicles after Japan's transport ministry found irregularities in their certification applications. This development widens the safety test scandal that has plagued Japanese automakers, including Honda, Suzuki, and Yamaha.

Toyota and Mazda have suspended shipments of some vehicles after Japan's transport ministry found irregularities in their certification applications. This development widens the safety test scandal that has plagued Japanese automakers, including Honda, Suzuki, and Yamaha. Irregularities in certification The Japanese transport ministry uncovered that several automakers submitted incorrect or manipulated test data for vehicle certification. As a result, Toyota, Mazda, and Yamaha were ordered to halt shipments of certain vehicles. An on-site inspection is scheduled at Toyota's headquarters in Aichi Prefecture to further investigate the matter. A broader impact on the industry The scandal's roots trace back to January, when the ministry requested automakers to review their certification applications following a similar issue at Toyota's Daihatsu unit. This scrutiny has now expanded, revealing more widespread irregularities across the industry. The ministry's findings have put a spotlight on the practices of these automakers, raising concerns about the integrity of vehicle certification processes. Also read: Hyundai to roll out US-made Ioniq 5 from Georgia plant, securing full EV tax credit Leadership under scrutiny The timing of these revelations is particularly sensitive as Toyota approaches its annual general meeting. Influential proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis have recommended shareholders vote against re-electing Akio Toyoda as chairman. ISS's report highlighted the recurring certification irregularities within the Toyota Group as a significant concern. Apologies and temporary halts At a press conference, Akio Toyoda, grandson of the automaker's founder, apologised for the misconduct. He acknowledged that the cars did not undergo the correct certification process before being sold. Toyota has temporarily halted shipments and sales of three car models made in Japan: the Corolla Fielder, Corolla Axio, and Yaris Cross. Toyoda stated, "As the person in charge of the Toyota Group, I sincerely apologise to our customers, car enthusiasts, and all stakeholders for this." He assured that there were no performance issues contravening laws and regulations, so customers do not need to stop using their vehicles. Government reaction Japan's top government spokesperson, Yoshimasa Hayashi, expressed regret over the misconduct, noting that it tarnishes the government's efforts to promote corporate reforms. The scandal has not only affected the reputation of the automakers but also brought into question the effectiveness of regulatory oversight. Financial impact The financial markets responded negatively to the news. Toyota's shares closed down 1.8%, underperforming a 0.9% gain in the broader Topix index. Mazda's shares fell by 3.3%, reflecting investor concerns about the broader implications of the scandal. Specific issues at Mazda Mazda has been found to have tampered with engine control software test results and crash tests for the Roadster RF sports car and Mazda2 hatchback. The company also discovered that crash tests for the discontinued Atenza and Axela models were manipulated using a timer to set off airbags during frontal collision tests, instead of the on-board sensor. Yamaha and Honda also affected Yamaha has halted shipments of a sports motorcycle due to similar irregularities. Honda reported that it found misconduct in noise and output tests over more than eight years on some two dozen models no longer in production. This prolonged period of non-compliance further underscores the need for stricter oversight and transparency in the certification process. Continuing investigations Toyota is still investigating issues related to vehicle fuel efficiency and emissions, with a target to complete the inquiry by the end of June. This ongoing investigation indicates that the full extent of the irregularities may not yet be known, and further repercussions could follow as more details emerge. The widening safety test scandal involving Toyota, Mazda, and other Japanese automakers underscores significant flaws in the certification process. The impact of these irregularities is profound, affecting corporate reputations, financial markets, and consumer trust. As the industry grapples with the fallout, there is an urgent need for improved transparency and stricter regulatory oversight to prevent such issues in the future. (Inputs from Reuters)

Toyota, Mazda halt vehicle shipments amid safety test scandal

Japan's transport ministry on Tuesday (June 4) launched an on-site investigation at Toyota's headquarters after irregularities were found in its applications to certify certain models.

Japan's transport ministry on Tuesday (June 4) launched an on-site investigation at Toyota's headquarters after irregularities were found in its applications to certify certain models. A report by the news agency Reuters said that the widening fallout over vehicle certification tests stem from a safety test scandal at Toyota's Daihatsu compact car unit and has spread to other Japanese automakers. Shares of Toyota down 1.1% However, Toyota was the only automaker to undergo an on-site inspection. On Monday, the transport ministry had announced plans to carry out the investigation when it said that Toyota, Mazda, Honda, Suzuki and Yamaha Motor were found to have submitted either flawed or manipulated data when applying for certification of vehicles. Shares of Toyota were down 1.1 per cent on Tuesday morning. Toyota chairperson issues apology On Monday, Toyota's chairperson Akio Toyoda apologised for lapses in the certification process of some of its vehicles. Addressing a press conference, Toyoda said that the correct certification process" had not been followed at Toyota Group companies, which include Daihatsu, truck brand Hino and Toyota itself. "In order to be mass produced and sold, vehicles must meet the standards of the certification process. The problem in this case was that they were mass-produced and sold without going through the correct certification process," Toyoda told reporters "As the person responsible for the Toyota Group, I would like to sincerely apologise to our customers, car enthusiasts and all stakeholders for the problems that have occurred within the Group. I am truly sorry," he added. (With inputs from agencies)

Japan launches on-site investigation at Toyota headquarters over certification irregularities

To celebrate Toyota’s 10 consecutive victories in the Dakar Rally (in the production car category), the brand has launched the Land Cruiser 10th Victory Edition for sale exclusively in the United Arab Emirates. However, this special edition is based on the LC J300, not the LC 250, and builds upon the Black Edition of the SUV that was already on sale in the country.

Carrying over elements like the black-finished grille, skid plate, and mud flaps from the Black Edition, the 10th Victory Edition introduces a bespoke set of black and grey decals placed on the sides, paying homage to the Land Cruiser’s motorsports legacy, new 18-inch black alloy wheels, and dark accents. The rather simple-looking wheels are shod with 285/60 R18 tyres. Upon closer inspection, another small update can be seen with the red-finished towing hooks at the front.

The Land Cruiser 10th Victory Edition is available only with the 3.5-litre petrol V6 engine that pushes out 409bhp. Power is sent to all four wheels via a 10-speed automatic gearbox and Toyota’s 4WD system.

Also Read: <a href="https://www.wionews.com/autonews/toyotas-gazoo-racing-bets-on-combustion-engines-amidst-electric-shift-725992">Toyota's Gazoo Racing bets on combustion engines amidst electric shift</a>

Inside, the dual-tone black and beige colour scheme remains unchanged.

The special edition is priced at AED 319,900 ($87,095), which is lower than the $112,415 price tag of the flagship Land Cruiser trim, the GR Sport, in the UAE. In India, the standard Land Cruiser 300 retails for ₹2.10 crore (~$251,863).

To celebrate Toyota’s 10 consecutive victories in the Dakar Rally (in the production car category), the brand has launched the Land Cruiser 10th Victory Edition for sale exclusively in the United Arab Emirates.

To celebrate Toyota’s 10 consecutive victories in the Dakar Rally (in the production car category), the brand has launched the Land Cruiser 10th Victory Edition for sale exclusively in the United Arab Emirates. However, this special edition is based on the LC J300, not the LC 250, and builds upon the Black Edition of the SUV that was already on sale in the country. Carrying over elements like the black-finished grille, skid plate, and mud flaps from the Black Edition, the 10th Victory Edition introduces a bespoke set of black and grey decals placed on the sides, paying homage to the Land Cruiser’s motorsports legacy, new 18-inch black alloy wheels, and dark accents. The rather simple-looking wheels are shod with 285/60 R18 tyres. Upon closer inspection, another small update can be seen with the red-finished towing hooks at the front. The Land Cruiser 10th Victory Edition is available only with the 3.5-litre petrol V6 engine that pushes out 409bhp. Power is sent to all four wheels via a 10-speed automatic gearbox and Toyota’s 4WD system. Also Read: Toyota's Gazoo Racing bets on combustion engines amidst electric shift Inside, the dual-tone black and beige colour scheme remains unchanged. The special edition is priced at AED 319,900 ($87,095), which is lower than the $112,415 price tag of the flagship Land Cruiser trim, the GR Sport, in the UAE. In India, the standard Land Cruiser 300 retails for ₹2.10 crore (~$251,863).

Land Cruiser 10th Victory Edition marks Toyota's Dakar success

Toyota Motor revealed its new developments in the automotive technology as it showcased new engine technologies for different vehicle types, including hybrid vehicles and bi-fuel vehicles. It comes as the auto giant plans to meet new emissions standards. The project is being pursued with peers like Subaru and Mazda Motor.

Toyota, the world’s largest automaker by volume, unveiled some of its works-in-progress - a 1.5-liter and a 2.0-liter engine which are much smaller in volume and height compared with those seen in current vehicles. The three companies focused their commitment on deepening the synergies with motors, batteries and other electric drive devices. Toyota currently owns about twenty percent of Subaru and has an equity stake of about five percent in Mazda.

Also Read:&nbsp;<a href="https://www.wionews.com/autonews/connected-car-market-expected-to-reach-usd-41666-billion-by-2030-725990">Connected car market expected to reach USD 416.66 billion by 2030</a>

The partnership is geared towards ensuring that vehicles with internal combustion engines can be powered by green energy like e-fuels and biofuels. Moreover, the more compact engines are expected to play a big role in revolutionising the car design by way of enabling low hood.

Although Toyota has long been considered a slow player in the EV space, an overall slowdown in the segment means that there is greater demand for the petrol-electric hybrids that the company specialises in. The new 1.5-liter engine is expected to be 10% lighter in weight as compared to the current models familiar in compact car such as Yaris. Similarly, the new 2.0-liter turbo engine will pose the same degree of improvement.

Hiroki Nakajima- Toyota’s Chief Technological Officer, declined to give the period within which the new models shall have been produced with the new engines. However, emission standards for automobiles are set to become more stringent, especially in regions such as the European Union, which has set its sights on enacting consensus emissions rules dubbed “Euro 7” for automobiles and pick up trucks by the year 2030 and a blackout on sales of fresh vehicles and pick up trucks with CO2 emissions capability past 2035.

Nonetheless, EVs remain a very significant focus in the contemporary automotive industry and yet Toyota has remained steadfast to its implementation of a “many-pronged” strategy to carbon neutrality, and it sells cars with a wide variety of powertrains.&nbsp; 
&nbsp;

Toyota Motor revealed its new developments in the automotive technology as it showcased new engine technologies for different vehicle types, including hybrid vehicles and bi-fuel vehicles.

Toyota Motor revealed its new developments in the automotive technology as it showcased new engine technologies for different vehicle types, including hybrid vehicles and bi-fuel vehicles. It comes as the auto giant plans to meet new emissions standards. The project is being pursued with peers like Subaru and Mazda Motor. Toyota, the world’s largest automaker by volume, unveiled some of its works-in-progress - a 1.5-liter and a 2.0-liter engine which are much smaller in volume and height compared with those seen in current vehicles. The three companies focused their commitment on deepening the synergies with motors, batteries and other electric drive devices. Toyota currently owns about twenty percent of Subaru and has an equity stake of about five percent in Mazda. Also Read: Connected car market expected to reach USD 416.66 billion by 2030 The partnership is geared towards ensuring that vehicles with internal combustion engines can be powered by green energy like e-fuels and biofuels. Moreover, the more compact engines are expected to play a big role in revolutionising the car design by way of enabling low hood. Although Toyota has long been considered a slow player in the EV space, an overall slowdown in the segment means that there is greater demand for the petrol-electric hybrids that the company specialises in. The new 1.5-liter engine is expected to be 10% lighter in weight as compared to the current models familiar in compact car such as Yaris. Similarly, the new 2.0-liter turbo engine will pose the same degree of improvement. Hiroki Nakajima- Toyota’s Chief Technological Officer, declined to give the period within which the new models shall have been produced with the new engines. However, emission standards for automobiles are set to become more stringent, especially in regions such as the European Union, which has set its sights on enacting consensus emissions rules dubbed “Euro 7” for automobiles and pick up trucks by the year 2030 and a blackout on sales of fresh vehicles and pick up trucks with CO2 emissions capability past 2035. Nonetheless, EVs remain a very significant focus in the contemporary automotive industry and yet Toyota has remained steadfast to its implementation of a “many-pronged” strategy to carbon neutrality, and it sells cars with a wide variety of powertrains.

Toyota, Subaru and Mazda to develop engines adaptable to different fuels

Toyota's motorsport and sports car division, Gazoo Racing, continues to invest heavily in ICE technology. GR president Tomoya Takahashi emphasised that the division plans to utilise combustion engines as extensively as possible. “There may be a time in the future when engines are banned, but internal combustion engines aren't bad; the enemy is carbon," Takahashi said. This statement underscores Toyota's belief that ICE vehicles can coexist with efforts to reduce carbon emissions.

The future of electric performance models

Despite the growing popularity of EVs, Toyota has no immediate plans to introduce a performance EV under the GR brand. This decision raises questions about the fate of the FT-Se concept car. Revealed in October 2023 at the Japan Mobility Show in Tokyo, the FT-Se evoked memories of the MR2 with its dual motors, all-wheel drive, and impressive performance claims. However, the likelihood of its production remains uncertain.

Hybrid and synthetic fuel solutions

While pure EVs are not on GR’s immediate agenda, hybrid technology is seen as a viable alternative. Takahashi mentioned that hybrid systems could help reduce carbon emissions. Additionally, Toyota is exploring synthetic fuels and hydrogen-powered combustion engines as part of their strategy to maintain ICE relevance in a low-carbon future.

Upcoming projects

GR continues to develop new models, including a performance SUV and an automatic version of the GR Corolla. Lexus, Toyota’s luxury brand, is also leveraging GR's technology. Lexus plans to use the 1.6-litre turbo engine from the GR Corolla in its upcoming LBZ concept, a small crossover with 300 hp and 295 lb-ft of torque.

Why Toyota sticks with ICE?

Toyota’s commitment to ICE stems from a belief in their continued viability alongside efforts to combat carbon emissions. This stance is partly driven by the technological advancements in hybrid systems and synthetic fuels, which offer potential pathways to cleaner combustion engines. Moreover, Toyota's cautious approach to EVs reflects a strategic preference for gradual integration of new technologies rather than a wholesale shift.

While the automotive industry accelerates towards electrification, Toyota’s Gazoo Racing is betting on the enduring relevance of combustion engines. This strategy balances the pursuit of performance with evolving environmental standards, ensuring that ICE vehicles remain a key part of Toyota’s portfolio in the foreseeable future.

Toyota's motorsport and sports car division, Gazoo Racing, continues to invest heavily in ICE technology. GR president Tomoya Takahashi emphasised that the division plans to utilise combustion engines as extensively as possible.

Toyota's motorsport and sports car division, Gazoo Racing, continues to invest heavily in ICE technology. GR president Tomoya Takahashi emphasised that the division plans to utilise combustion engines as extensively as possible. “There may be a time in the future when engines are banned, but internal combustion engines aren't bad; the enemy is carbon," Takahashi said. This statement underscores Toyota's belief that ICE vehicles can coexist with efforts to reduce carbon emissions. The future of electric performance models Despite the growing popularity of EVs, Toyota has no immediate plans to introduce a performance EV under the GR brand. This decision raises questions about the fate of the FT-Se concept car. Revealed in October 2023 at the Japan Mobility Show in Tokyo, the FT-Se evoked memories of the MR2 with its dual motors, all-wheel drive, and impressive performance claims. However, the likelihood of its production remains uncertain. Hybrid and synthetic fuel solutions While pure EVs are not on GR’s immediate agenda, hybrid technology is seen as a viable alternative. Takahashi mentioned that hybrid systems could help reduce carbon emissions. Additionally, Toyota is exploring synthetic fuels and hydrogen-powered combustion engines as part of their strategy to maintain ICE relevance in a low-carbon future. Upcoming projects GR continues to develop new models, including a performance SUV and an automatic version of the GR Corolla. Lexus, Toyota’s luxury brand, is also leveraging GR's technology. Lexus plans to use the 1.6-litre turbo engine from the GR Corolla in its upcoming LBZ concept, a small crossover with 300 hp and 295 lb-ft of torque. Why Toyota sticks with ICE? Toyota’s commitment to ICE stems from a belief in their continued viability alongside efforts to combat carbon emissions. This stance is partly driven by the technological advancements in hybrid systems and synthetic fuels, which offer potential pathways to cleaner combustion engines. Moreover, Toyota's cautious approach to EVs reflects a strategic preference for gradual integration of new technologies rather than a wholesale shift. While the automotive industry accelerates towards electrification, Toyota’s Gazoo Racing is betting on the enduring relevance of combustion engines. This strategy balances the pursuit of performance with evolving environmental standards, ensuring that ICE vehicles remain a key part of Toyota’s portfolio in the foreseeable future.

Toyota's Gazoo Racing bets on combustion engines amidst electric shift

Toyota has once again secured the top position in the Plante Moran consultancy’s annual North American Automotive OEM - Supplier Working Relations Index (WRI) Study. This comprehensive study evaluates the relationships between six U.S. automakers and their suppliers. While most automakers improved their scores, Ford experienced a significant decline, reflecting ongoing challenges in its supplier relations.

Toyota's consistent leadership

In the 2024 WRI Study, Toyota emerged as the highest scorer with 368 points, marking its highest score since 2007. This consistent performance underscores Toyota's commitment to fostering strong supplier relationships. Honda followed closely with 344 points, its best score since at least 2014. General Motors (GM) secured the third position with 299 points, while Nissan achieved 255 points, reflecting notable improvements.

Ford's decline and organisational challenges

Ford's performance in the WRI Study has been declining for four consecutive years, with a sharp drop of 22 points to 197 in 2024. Since 2014, Ford has seen its score fall by 70 points. Dave Andrea, Principal at Plante Moran’s Strategy and Automotive &amp; Mobility Consulting Practice, attributes this decline to the organisational turmoil following Ford's aggressive push into the electric vehicle (EV) market. The creation of the Model E business division has led to internal confusion and negative perceptions, impacting supplier relations.

Understanding the WRI study

The WRI Study evaluates automakers on a XXX-point scale based on trust, timely communication, mutual profit opportunities, assistance, and reduced friction in supplier dealings. Andrea highlights that the study's findings show the importance of equitable risk and cost-sharing, which enhances long-term financial and innovative capabilities for both automakers and suppliers.

Focus on collaboration

Toyota, Honda, and GM have been recognised for their fairness and transparency in dealing with suppliers. These automakers understand that maintaining strong supplier relationships is crucial, especially during a period marked by the transition to EVs and supply-chain disruptions.

Communication and transparency

Dave Andrea, Principal in Plante Moran’s Strategy and Automotive &amp; Mobility Consulting Practice notes, "The three top-scoring automakers are perceived as communicating most transparently with their suppliers." This transparency is vital for building trust and ensuring timely issue resolution. The study found that automakers with the highest WRI scores also excelled in maintaining open lines of communication with their suppliers.

Addressing organisational issues

Ford's decline in the WRI Study reflects the need to address internal challenges and improve supplier relations. Andrea points out that engineering, manufacturing, and product development influences have contributed to Ford's lower scores. To regain its standing, Ford must streamline its organisational structure and enhance communication with suppliers.

Strategic supplier integration

To improve its WRI score, Ford should focus on integrating suppliers into its strategic planning. Andrea advises, "The highest-scoring automakers make a concerted effort to include suppliers in their strategies and create expectations for a reasonable return on investment." By adopting this approach, Ford can foster stronger, more collaborative relationships with its suppliers.

Overall trends

The 2024 WRI Study indicates that most automakers are improving their relationships with suppliers despite ongoing challenges. Andrea comments, "With all the challenges and conflicts facing suppliers this past year, it’s not surprising that some automakers dropped even further in their scores. But several automakers improved significantly."

Survey methodology

Plante Moran conducted the 24th annual WRI Study from mid-February to mid-April, surveying 696 executives from 429 Tier 1 suppliers. These executives rated their relationships with automaker customers across eight major purchasing areas and 20 commodity areas.

Toyota's leadership in the WRI Study highlights its commitment to strong supplier relationships, while Ford's decline underscores the need for organisational improvements. As the automotive industry continues to evolve, fostering transparent and equitable supplier relations will be crucial for automakers to navigate the challenges ahead and achieve mutual success with their suppliers.

Toyota has once again secured the top position in the Plante Moran consultancy’s annual North American Automotive OEM - Supplier Working Relations Index (WRI) Study.

Toyota has once again secured the top position in the Plante Moran consultancy’s annual North American Automotive OEM - Supplier Working Relations Index (WRI) Study. This comprehensive study evaluates the relationships between six U.S. automakers and their suppliers. While most automakers improved their scores, Ford experienced a significant decline, reflecting ongoing challenges in its supplier relations. Toyota's consistent leadership In the 2024 WRI Study, Toyota emerged as the highest scorer with 368 points, marking its highest score since 2007. This consistent performance underscores Toyota's commitment to fostering strong supplier relationships. Honda followed closely with 344 points, its best score since at least 2014. General Motors (GM) secured the third position with 299 points, while Nissan achieved 255 points, reflecting notable improvements. Ford's decline and organisational challenges Ford's performance in the WRI Study has been declining for four consecutive years, with a sharp drop of 22 points to 197 in 2024. Since 2014, Ford has seen its score fall by 70 points. Dave Andrea, Principal at Plante Moran’s Strategy and Automotive & Mobility Consulting Practice, attributes this decline to the organisational turmoil following Ford's aggressive push into the electric vehicle (EV) market. The creation of the Model E business division has led to internal confusion and negative perceptions, impacting supplier relations. Understanding the WRI study The WRI Study evaluates automakers on a XXX-point scale based on trust, timely communication, mutual profit opportunities, assistance, and reduced friction in supplier dealings. Andrea highlights that the study's findings show the importance of equitable risk and cost-sharing, which enhances long-term financial and innovative capabilities for both automakers and suppliers. Focus on collaboration Toyota, Honda, and GM have been recognised for their fairness and transparency in dealing with suppliers. These automakers understand that maintaining strong supplier relationships is crucial, especially during a period marked by the transition to EVs and supply-chain disruptions. Communication and transparency Dave Andrea, Principal in Plante Moran’s Strategy and Automotive & Mobility Consulting Practice notes, "The three top-scoring automakers are perceived as communicating most transparently with their suppliers." This transparency is vital for building trust and ensuring timely issue resolution. The study found that automakers with the highest WRI scores also excelled in maintaining open lines of communication with their suppliers. Addressing organisational issues Ford's decline in the WRI Study reflects the need to address internal challenges and improve supplier relations. Andrea points out that engineering, manufacturing, and product development influences have contributed to Ford's lower scores. To regain its standing, Ford must streamline its organisational structure and enhance communication with suppliers. Strategic supplier integration To improve its WRI score, Ford should focus on integrating suppliers into its strategic planning. Andrea advises, "The highest-scoring automakers make a concerted effort to include suppliers in their strategies and create expectations for a reasonable return on investment." By adopting this approach, Ford can foster stronger, more collaborative relationships with its suppliers. Overall trends The 2024 WRI Study indicates that most automakers are improving their relationships with suppliers despite ongoing challenges. Andrea comments, "With all the challenges and conflicts facing suppliers this past year, it’s not surprising that some automakers dropped even further in their scores. But several automakers improved significantly." Survey methodology Plante Moran conducted the 24th annual WRI Study from mid-February to mid-April, surveying 696 executives from 429 Tier 1 suppliers. These executives rated their relationships with automaker customers across eight major purchasing areas and 20 commodity areas. Toyota's leadership in the WRI Study highlights its commitment to strong supplier relationships, while Ford's decline underscores the need for organisational improvements. As the automotive industry continues to evolve, fostering transparent and equitable supplier relations will be crucial for automakers to navigate the challenges ahead and achieve mutual success with their suppliers.

Toyota leads, Ford stumbles in annual supplier relations study

Japanese automaker Toyota Motor had to repeatedly halt production at its Mexico plant in February and March due to shortages of local labour. This affected output at suppliers, Reuters reported citing people with knowledge of the automaker's operations. These stoppages cause a risk of potential choke point for the world's biggest automaker which plans to produce 10 million vehicles this year, as per documents from Toyota and suppliers reviewed by Reuters.

Production was halted for a total of 19 days in February and March at Toyota's plant in Tijuana, Mexico, where it makes the Tacoma pick-up truck, according to two sources. Another factor that resulted in the production stoppage at the plant is technical issue. However, now, Toyota is working with some suppliers to ease the strain. Still, some parts makers are barely managing to keep production going because of the worker shortage, one of the people told Reuters.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/mercedes-reportedly-cancels-development-for-next-gen-ev-platform-722165">Mercedes reportedly cancels development for next-gen EV platform</a>

In a pool of issues being dealt with by the Japanese automaker, the supply disruptions are the latest. The manufacturing giant is also been dealing with the fallout from a safety test certification scandal at subsidiary Daihatsu, as well as separate governance issues at two other group companies.

Due to these scandals, the automaker's plan to produce electric vehicles in the US has been delayed by six months to around June 2026. The EV delay was previously reported by Japanese media. "Toyota's North American plants continue to face intermittent production delays due to supply chain disruptions. To minimise the impact, our teams are working diligently to do everything possible to lessen the inconvenience to our customers," said Toyota Motor North America.&nbsp;

The automaker acknowledged the "frequent production halts" that were causing "inconvenience and concern" in a letter to its North American supplier network in late April. The automaker even requested details from parts makers about the challenges being faced by them in North America and what kind of support they required. "There were some operational issues involving parts makers, and it became clear in the fourth quarter that production was not going as expected," Yoichi Miyazaki, Toyota's chief financial officer said.

(with inputs from Reuters)

 
&nbsp;

Japanese automaker Toyota Motor had to repeatedly halt production at its Mexico plant in February and March due to shortages of local labour. This affected output at suppliers, Reuters reported citing people with knowledge of the automaker's operations.

Japanese automaker Toyota Motor had to repeatedly halt production at its Mexico plant in February and March due to shortages of local labour. This affected output at suppliers, Reuters reported citing people with knowledge of the automaker's operations. These stoppages cause a risk of potential choke point for the world's biggest automaker which plans to produce 10 million vehicles this year, as per documents from Toyota and suppliers reviewed by Reuters. Production was halted for a total of 19 days in February and March at Toyota's plant in Tijuana, Mexico, where it makes the Tacoma pick-up truck, according to two sources. Another factor that resulted in the production stoppage at the plant is technical issue. However, now, Toyota is working with some suppliers to ease the strain. Still, some parts makers are barely managing to keep production going because of the worker shortage, one of the people told Reuters. Also Read: Mercedes reportedly cancels development for next-gen EV platform In a pool of issues being dealt with by the Japanese automaker, the supply disruptions are the latest. The manufacturing giant is also been dealing with the fallout from a safety test certification scandal at subsidiary Daihatsu, as well as separate governance issues at two other group companies. Due to these scandals, the automaker's plan to produce electric vehicles in the US has been delayed by six months to around June 2026. The EV delay was previously reported by Japanese media. "Toyota's North American plants continue to face intermittent production delays due to supply chain disruptions. To minimise the impact, our teams are working diligently to do everything possible to lessen the inconvenience to our customers," said Toyota Motor North America. The automaker acknowledged the "frequent production halts" that were causing "inconvenience and concern" in a letter to its North American supplier network in late April. The automaker even requested details from parts makers about the challenges being faced by them in North America and what kind of support they required. "There were some operational issues involving parts makers, and it became clear in the fourth quarter that production was not going as expected," Yoichi Miyazaki, Toyota's chief financial officer said. (with inputs from Reuters)

Toyota frequently halted Mexico plant operations due to worker shortage

Toyota Motor is expected to get increased demand for hybrids when it reports annual earnings on Wednesday, showing how the top-selling automaker is set to benefit as the hype around battery electric vehicles cools.

This is due to a boost from the weak yen currency debunking the challenges it faces in the critical markets. Whereas in China, it faces pressure because of an aggressive price war, and in the U.S. its due to the fallout from consumers struggling with higher borrowing costs.

Worldwide, Toyota has felt slight competition from Chinese rivals constantly expanding production of low-priced vehicles.

 
The group’s reputation for quality and safety was threatened, while the sales were also affected due to a safety test scandal at its Daihatsu compact car unit in Japan.

Toyota's China sales were down 1.6% over the first quarter of the 2024 calendar year, better than sharper declines of Japanese rivals Nissan and Honda, however worse than a 12.5% rise in passenger vehicle sales sector-wide, according to data from an auto industry association.

As global demand for battery-powered EVs has slowed, Toyota has made money by selling more hybrids, which come with relatively higher margins than regular gasoline cars.

Read More:&nbsp;<a href="https://www.wionews.com/business-economy/lucids-annual-vehicle-production-forecast-for-2024-less-than-estimates-718931">Lucid’s annual vehicle production forecast for 2024 less than estimates</a>

Toyota pioneered hybrids more than a quarter of a century ago with the Prius. They made up more than a third of the 10.3 million cars it sold in the financial year just ended, including the Lexus luxury brand.

While strong in hybrids, Toyota remains a laggard when it comes to EVs, behind rivals such as Tesla and European and Chinese automakers.

 
Battery EVs made up just 1% of global sales in the year just ended, or about 116,500 vehicles, well below a previously announced target of 202,000 vehicles.

 
In February, the Japanese automaker raised its operating profit forecast for the financial year ended March 31 to 4.9 trillion yen ($31.87 billion), a result that would mark a record profit and an 80% increase on the previous year.

For the fourth quarter, Toyota is expected to deliver an operating profit of 747 billion yen, according to the average of nine analysts polled by LSEG.&nbsp;

(With inputs From Reuters)

Toyota Motor is expected to get increased demand for hybrids when it reports annual earnings on Wednesday, showing how the top-selling automaker is set to benefit as the hype around battery electric vehicles cools.

Toyota Motor is expected to get increased demand for hybrids when it reports annual earnings on Wednesday, showing how the top-selling automaker is set to benefit as the hype around battery electric vehicles cools. This is due to a boost from the weak yen currency debunking the challenges it faces in the critical markets. Whereas in China, it faces pressure because of an aggressive price war, and in the U.S. its due to the fallout from consumers struggling with higher borrowing costs. Worldwide, Toyota has felt slight competition from Chinese rivals constantly expanding production of low-priced vehicles. The group’s reputation for quality and safety was threatened, while the sales were also affected due to a safety test scandal at its Daihatsu compact car unit in Japan. Toyota's China sales were down 1.6% over the first quarter of the 2024 calendar year, better than sharper declines of Japanese rivals Nissan and Honda, however worse than a 12.5% rise in passenger vehicle sales sector-wide, according to data from an auto industry association. As global demand for battery-powered EVs has slowed, Toyota has made money by selling more hybrids, which come with relatively higher margins than regular gasoline cars. Read More: Lucid’s annual vehicle production forecast for 2024 less than estimates Toyota pioneered hybrids more than a quarter of a century ago with the Prius. They made up more than a third of the 10.3 million cars it sold in the financial year just ended, including the Lexus luxury brand. While strong in hybrids, Toyota remains a laggard when it comes to EVs, behind rivals such as Tesla and European and Chinese automakers. Battery EVs made up just 1% of global sales in the year just ended, or about 116,500 vehicles, well below a previously announced target of 202,000 vehicles. In February, the Japanese automaker raised its operating profit forecast for the financial year ended March 31 to 4.9 trillion yen ($31.87 billion), a result that would mark a record profit and an 80% increase on the previous year. For the fourth quarter, Toyota is expected to deliver an operating profit of 747 billion yen, according to the average of nine analysts polled by LSEG. (With inputs From Reuters)

Toyota to gain upper-hand as EV market slumps

Toyota Motor North America (TMNA) is set to open its R&amp;D California office as the North American Hydrogen Headquarters (H2HQ), thus emphasizing its dedication to the progression of the hydrogen fuel cell technology. The shift goes on the line to Toyota's philosophy of participating in a sustainable future to avoid carbon emissions.

Transition to hydrogen 

Naming the research and development office in California as the North American Hydrogen Headquarters points to Toyota's commitment to develop as target products hydrogen related. This deliberate approach aims to channel resources into a united focus towards intensifying the creation and productization of hydrogen technology.

Leadership's vision

Ted Ogawa, President and CEO of Toyota Motor North America, announced that the company would continue to guide the way to strengthen hydrogen fuel cell vehicles technology. He emphasised Toyota's role in developing scalable, zero-emission solutions, contributing to global efforts to combat climate change.

<a href="https://www.wionews.com/business-economy/polestar-delays-financial-results-publication-amid-accounting-misstatements-716868">Also Read:&nbsp;Polestar delays financial results publication amid accounting misstatements</a>

Facility upgrades and future plans

H2HQ workspace infrastructure has been changed in a way to offer space for the teams that engage in the hydrogen research, development as well as the hydrogen products sales. The next step to improve the system is the addition of a flexible microgrid and a sustainable education centre for customers so the automaker can remain a part of the movement.

Endorsements and collaborations

California state senator Josh Newman congratulated Toyota on moving the H2HQ to California acknowledging that such a step is a sign of strong and intentional relationship between two sides and the commitment to the developing of sustainable energy in California. Additionally, partnerships with organisations like the California Air Resources Board (CARB) underscore Toyota's commitment to decarbonisation efforts.

Focus areas and research initiatives

The H2HQ will respectively promote hydrogen initiatives such as low- and ultra-heavy field applications, stationary renewable energy systems, and port vehicles application. The fuel cell research that reflects Toyota's innovation history dates back over 30 years, having the main goal to develop more advanced hydrogen technology.

Notable achievements and collaborations

The Fuel Cell Development (FCD) team at Toyota not only made improvements to existing concepts but also created evolving technologies that cleared the way for the introduction of the hydrogen-powered Mirai passenger fuel cell electric vehicle. Through the participation of partners in the industry, the company is operationally deploying hydrogen as the fuel for trucks and appliances for stationary power production.

Future prospects and innovation

In addition to being utilized in automotive technology, the hydrogen technology that Toyota has been devoted to has been found in applications for stationary power generation. Collaborations with the leading players in the market thus provide a perfect platform for showcasing the diversity and ability of hydrogen as a green energy source.

Toyota Motor North America (TMNA) is set to open its R&D California office as the North American Hydrogen Headquarters (H2HQ), thus emphasizing its dedication to the progression of the hydrogen fuel cell technology.

Toyota Motor North America (TMNA) is set to open its R&D California office as the North American Hydrogen Headquarters (H2HQ), thus emphasizing its dedication to the progression of the hydrogen fuel cell technology. The shift goes on the line to Toyota's philosophy of participating in a sustainable future to avoid carbon emissions. Transition to hydrogen Naming the research and development office in California as the North American Hydrogen Headquarters points to Toyota's commitment to develop as target products hydrogen related. This deliberate approach aims to channel resources into a united focus towards intensifying the creation and productization of hydrogen technology. Leadership's vision Ted Ogawa, President and CEO of Toyota Motor North America, announced that the company would continue to guide the way to strengthen hydrogen fuel cell vehicles technology. He emphasised Toyota's role in developing scalable, zero-emission solutions, contributing to global efforts to combat climate change. Also Read: Polestar delays financial results publication amid accounting misstatements Facility upgrades and future plans H2HQ workspace infrastructure has been changed in a way to offer space for the teams that engage in the hydrogen research, development as well as the hydrogen products sales. The next step to improve the system is the addition of a flexible microgrid and a sustainable education centre for customers so the automaker can remain a part of the movement. Endorsements and collaborations California state senator Josh Newman congratulated Toyota on moving the H2HQ to California acknowledging that such a step is a sign of strong and intentional relationship between two sides and the commitment to the developing of sustainable energy in California. Additionally, partnerships with organisations like the California Air Resources Board (CARB) underscore Toyota's commitment to decarbonisation efforts. Focus areas and research initiatives The H2HQ will respectively promote hydrogen initiatives such as low- and ultra-heavy field applications, stationary renewable energy systems, and port vehicles application. The fuel cell research that reflects Toyota's innovation history dates back over 30 years, having the main goal to develop more advanced hydrogen technology. Notable achievements and collaborations The Fuel Cell Development (FCD) team at Toyota not only made improvements to existing concepts but also created evolving technologies that cleared the way for the introduction of the hydrogen-powered Mirai passenger fuel cell electric vehicle. Through the participation of partners in the industry, the company is operationally deploying hydrogen as the fuel for trucks and appliances for stationary power production. Future prospects and innovation In addition to being utilized in automotive technology, the hydrogen technology that Toyota has been devoted to has been found in applications for stationary power generation. Collaborations with the leading players in the market thus provide a perfect platform for showcasing the diversity and ability of hydrogen as a green energy source.

Toyota establishes North American Hydrogen Headquarters in California

Hyundai Motor Group disclosed that the company is gearing up to launch its first hybrid cars in India as early as 2026. This shift in strategy comes as the South Korean auto conglomerate seeks to go beyond electric vehicles to cement its presence in the Indian market.

The group, which includes Hyundai Motor and Kia Corp, is considering launching a hybrid sport-utility vehicle in India. According to sources familiar with the matter, the proposed SUV which is expected to be similar in size to its popular mid-sized Creta SUV is currently under evaluation.

While Hyundai and Kia are progressing with their electrification plans for the Indian subcontinent, they are actively creating the framework for the launch of hybrid SUVs in the country by 2026 or 2027. As per media reports, Hyundai Motor Group stated that it was "committed to a future of electrified mobility and will optimise product strategies for each market".

Currently, Hyundai and Kia only retail gasoline and diesel cars and imported EVs including the IONIQ 5 and EV6, respectively. However, with the new strategy in action, the conglomerate will launch its first India-made EVs in the world's third-largest car market in 2025.

Hyundai's decision to focus on hybrid vehicles that will employ a gasoline powertrain and electric motor is motivated by the rapidly rising demand for technology in India. The company is improvising its approach to the Indian market by moving away from a strategy that solely focuses on battery electric vehicles.

The adoption of EVs has been relatively slow in India primarily because of high prices and subpar charging infrastructure, prodding the company to adopt hybrids as an “interim strategy”. According to media reports, "Hyundai has the hybrid technology in other markets. It has now begun work on tailoring that technology for cars in India to make it mainstream," adding that increasing consumer demand and acceptance of hybrids in recent months led to the shift.

Data shows that total car sales in India surpassed 4 million in 2023. Out of which, hybrids, led by Toyota Motor, accounted for nearly 2% of total car sales.

Hyundai's pivot to India includes plans for a USD 3-billion IPO, emphasising its long-term commitment to the Indian market. The decision follows a scaleback of production in China and the sale of its two Russian plants.

During his recent visit to India, Hyundai Motor Group Executive Chair Euisun Chung discussed mid and long-term strategies, including plans for electric and hybrid vehicles.

India stands as Hyundai's third-largest revenue generator after South Korea and the United States, and the company is strategically aligning itself to capitalise on the country's burgeoning automotive market by introducing hybrid vehicles alongside its electric vehicle lineup. 
&nbsp;

Hyundai Motor Group disclosed that the company is gearing up to launch its first hybrid cars in India as early as 2026. This shift in strategy comes as the South Korean auto conglomerate seeks to go beyond electric vehicles to cement its presence in the Indian market.

Hyundai Motor Group disclosed that the company is gearing up to launch its first hybrid cars in India as early as 2026. This shift in strategy comes as the South Korean auto conglomerate seeks to go beyond electric vehicles to cement its presence in the Indian market. The group, which includes Hyundai Motor and Kia Corp, is considering launching a hybrid sport-utility vehicle in India. According to sources familiar with the matter, the proposed SUV which is expected to be similar in size to its popular mid-sized Creta SUV is currently under evaluation. While Hyundai and Kia are progressing with their electrification plans for the Indian subcontinent, they are actively creating the framework for the launch of hybrid SUVs in the country by 2026 or 2027. As per media reports, Hyundai Motor Group stated that it was "committed to a future of electrified mobility and will optimise product strategies for each market". Currently, Hyundai and Kia only retail gasoline and diesel cars and imported EVs including the IONIQ 5 and EV6, respectively. However, with the new strategy in action, the conglomerate will launch its first India-made EVs in the world's third-largest car market in 2025. Hyundai's decision to focus on hybrid vehicles that will employ a gasoline powertrain and electric motor is motivated by the rapidly rising demand for technology in India. The company is improvising its approach to the Indian market by moving away from a strategy that solely focuses on battery electric vehicles. The adoption of EVs has been relatively slow in India primarily because of high prices and subpar charging infrastructure, prodding the company to adopt hybrids as an “interim strategy”. According to media reports, "Hyundai has the hybrid technology in other markets. It has now begun work on tailoring that technology for cars in India to make it mainstream," adding that increasing consumer demand and acceptance of hybrids in recent months led to the shift. Data shows that total car sales in India surpassed 4 million in 2023. Out of which, hybrids, led by Toyota Motor, accounted for nearly 2% of total car sales. Hyundai's pivot to India includes plans for a USD 3-billion IPO, emphasising its long-term commitment to the Indian market. The decision follows a scaleback of production in China and the sale of its two Russian plants. During his recent visit to India, Hyundai Motor Group Executive Chair Euisun Chung discussed mid and long-term strategies, including plans for electric and hybrid vehicles. India stands as Hyundai's third-largest revenue generator after South Korea and the United States, and the company is strategically aligning itself to capitalise on the country's burgeoning automotive market by introducing hybrid vehicles alongside its electric vehicle lineup.

Hyundai Motor Group shifts strategy: hybrid cars for India by 2026

Toyota, the Japanese automaker, is confident to announce an investment of $2.2 billion in Brazil over the next few years, according to statements made by Brazil's vice-president. 
 
This substantial investment puts a spotlight on Toyota's commitment to boosts its presence in the South American country. 
 
The announcement is expected to be made at an event hosted at Toyota's factory in Sorocaba, Sao Paulo state. 
 
Geraldo Alckmin, Brazil's vice-president and minister for industry, revealed on social media that the investments are anticipated to create around 2,000 job opportunities while also facilitating the launch of new vehicle models. 
 
While Toyota has refrained from commenting on the specifics of its future plans, the statement comes following local media reports highlighting the impending investments. 
 
According to reports from O Globo's columnist Lauro Jardim, Toyota is set to manufacture a hybrid car and a sport utility vehicle (SUV) at its Sorocaba unit as part of the planned investment. 
 
Toyota's forthcoming investment in Brazil follows a series of similar announcements from other global automakers, including Volkswagen, General Motors, and Hyundai Motor. 
 
(With inputs from Reuters)

Toyota, the Japanese automaker, is confident to announce an investment of $2.2 billion in Brazil over the next few years, according to statements made by Brazil's vice-president.

Toyota, the Japanese automaker, is confident to announce an investment of $2.2 billion in Brazil over the next few years, according to statements made by Brazil's vice-president. This substantial investment puts a spotlight on Toyota's commitment to boosts its presence in the South American country. The announcement is expected to be made at an event hosted at Toyota's factory in Sorocaba, Sao Paulo state. Geraldo Alckmin, Brazil's vice-president and minister for industry, revealed on social media that the investments are anticipated to create around 2,000 job opportunities while also facilitating the launch of new vehicle models. While Toyota has refrained from commenting on the specifics of its future plans, the statement comes following local media reports highlighting the impending investments. According to reports from O Globo's columnist Lauro Jardim, Toyota is set to manufacture a hybrid car and a sport utility vehicle (SUV) at its Sorocaba unit as part of the planned investment. Toyota's forthcoming investment in Brazil follows a series of similar announcements from other global automakers, including Volkswagen, General Motors, and Hyundai Motor. (With inputs from Reuters)

Toyota set to invest $2.2 billion in Brazil, unveil new vehicle models

Technical snags have forced auto giants General Motors and Toyota to recall a significant number of vehicles off US roads.

General motors recalls 820,000 pickup trucks

<o:p></o:p>

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral. <o:p></o:p>

According to a report by AP news, the recall, announced by the Japanese automaker, encompasses specific Toyota Tundra pickups, Sequoia SUVs, and Lexus LX 600 SUVs manufactured between 2022 and 2024.<o:p></o:p>

According to Toyota, certain components within the vehicles' automatic transmissions may fail to disengage promptly when shifted into neutral, potentially allowing engine power to continue reaching the wheels. <o:p></o:p>

This flaw could result in the vehicles unintentionally moving forward at low speeds on level surfaces, posing an increased risk of accidents if brakes are not applied promptly.<o:p></o:p>

While Toyota has not disclosed any incidents or injuries related to the transmission issue, the company is taking proactive measures to mitigate potential risks.<o:p></o:p>

As part of the recall process, Toyota plans to notify affected vehicle owners by late April and provide necessary updates to the transmission software to rectify the underlying problem. <o:p></o:p>

By updating the software, Toyota aims to ensure the prompt disengagement of the transmission when shifted into neutral, thus preventing any unintended vehicle movement.<o:p></o:p>

This recall announcement is one of three safety recalls issued by Toyota on the same day. <o:p></o:p>

In addition to the transmission issue, Toyota is recalling around 19,000 vehicles due to a software glitch affecting the rearview camera display. <o:p></o:p>

Another recall involves approximately 4,000 Toyota Camry and Camry Hybrid vehicles over safety concerns related to the rear fold-down seat head restraints.<o:p></o:p>

Despite being the world's largest automaker by sales, Toyota has faced safety challenges in recent months, including previous recalls related to airbag deployment issues and safety test forgery by its subsidiary Daihatsu. <o:p></o:p>

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral.

Toyota has initiated a recall of approximately 280,000 pickup trucks and SUVs in the United States due to a transmission issue that could lead to unintended vehicle movement while the gear is kept on neutral. According to a report by AP news, the recall, announced by the Japanese automaker, encompasses specific Toyota Tundra pickups, Sequoia SUVs, and Lexus LX 600 SUVs manufactured between 2022 and 2024. According to Toyota, certain components within the vehicles' automatic transmissions may fail to disengage promptly when shifted into neutral, potentially allowing engine power to continue reaching the wheels. This flaw could result in the vehicles unintentionally moving forward at low speeds on level surfaces, posing an increased risk of accidents if brakes are not applied promptly. While Toyota has not disclosed any incidents or injuries related to the transmission issue, the company is taking proactive measures to mitigate potential risks. As part of the recall process, Toyota plans to notify affected vehicle owners by late April and provide necessary updates to the transmission software to rectify the underlying problem. By updating the software, Toyota aims to ensure the prompt disengagement of the transmission when shifted into neutral, thus preventing any unintended vehicle movement. This recall announcement is one of three safety recalls issued by Toyota on the same day. In addition to the transmission issue, Toyota is recalling around 19,000 vehicles due to a software glitch affecting the rearview camera display. Another recall involves approximately 4,000 Toyota Camry and Camry Hybrid vehicles over safety concerns related to the rear fold-down seat head restraints. Despite being the world's largest automaker by sales, Toyota has faced safety challenges in recent months, including previous recalls related to airbag deployment issues and safety test forgery by its subsidiary Daihatsu.

Toyota issues recall for 280,000 vehicles over transmission flaw: Report

In response to the revelation of rigged collision safety-tests, Toyota Motor Corp announced significant leadership changes within Daihatsu Motor, with both the president and chairman set to step down.

These developments come almost a year after Daihatsu disclosed the manipulation of safety tests, marking a pivotal moment for the small-car unit as Toyota endeavours to reinstate the brand's reputation as one of Japan's foremost compact car manufacturers.

The move signals one of the most significant shifts within the company since the scandal emerged. Toyota's efforts to restore Daihatsu's standing align with its broader objectives to address governance issues across its affiliates, including truck maker Hino Motors and Toyota Industries. These challenges have prompted an apology from Toyota Chairman Akio Toyoda, acknowledging the severity of the situation.

Toyota wasted no time in announcing replacements for the outgoing executives at Daihatsu. Masahiro Inoue, currently serving as the chief executive officer for the Latin America and Caribbean region, is slated to assume the role of president effective March 1.

This move reflects Toyota's proactive approach to instilling fresh leadership and direction within Daihatsu. Meanwhile, the chairman position will remain vacant, indicating a streamlined leadership structure moving forward.

While some may interpret these leadership changes as disciplinary&nbsp;measures, Toyota's Chief Executive Koji Sato emphasised that the reorganisation within Daihatsu is not solely a response to the misconduct but rather a strategic decision.

The outgoing president, Soichiro Okudaira, brought nearly four decades of experience at Toyota to his role at Daihatsu, assuming the presidency in 2017 following its full acquisition by Toyota. This tenure underscores the deep ties between the two companies.

Daihatsu's significance within Toyota's broader operations is notable, accounting for 7 per cent of the conglomerate's total group sales in 2023. Despite this, the safety certification lapses necessitated actions to address the issue, including Daihatsu's removal from the Commercial Japan Partnership Technologies (CJPT).

This partnership, initially established by Toyota, Hino, and Isuzu Motors for technology development in commercial vehicles, saw Daihatsu's participation alongside Suzuki Motor. The decision to transfer Daihatsu's 10 per cent equity stake in CJPT to Toyota underscores the gravity of the situation.

(With inputs from Reuters)<o:p></o:p>

In response to the revelation of rigged collision safety-tests, Toyota Motor Corp announced significant leadership changes within Daihatsu Motor, with both the president and chairman set to step down.

In response to the revelation of rigged collision safety-tests, Toyota Motor Corp announced significant leadership changes within Daihatsu Motor, with both the president and chairman set to step down. These developments come almost a year after Daihatsu disclosed the manipulation of safety tests, marking a pivotal moment for the small-car unit as Toyota endeavours to reinstate the brand's reputation as one of Japan's foremost compact car manufacturers. The move signals one of the most significant shifts within the company since the scandal emerged. Toyota's efforts to restore Daihatsu's standing align with its broader objectives to address governance issues across its affiliates, including truck maker Hino Motors and Toyota Industries. These challenges have prompted an apology from Toyota Chairman Akio Toyoda, acknowledging the severity of the situation. Toyota wasted no time in announcing replacements for the outgoing executives at Daihatsu. Masahiro Inoue, currently serving as the chief executive officer for the Latin America and Caribbean region, is slated to assume the role of president effective March 1. This move reflects Toyota's proactive approach to instilling fresh leadership and direction within Daihatsu. Meanwhile, the chairman position will remain vacant, indicating a streamlined leadership structure moving forward. While some may interpret these leadership changes as disciplinary measures, Toyota's Chief Executive Koji Sato emphasised that the reorganisation within Daihatsu is not solely a response to the misconduct but rather a strategic decision. The outgoing president, Soichiro Okudaira, brought nearly four decades of experience at Toyota to his role at Daihatsu, assuming the presidency in 2017 following its full acquisition by Toyota. This tenure underscores the deep ties between the two companies. Daihatsu's significance within Toyota's broader operations is notable, accounting for 7 per cent of the conglomerate's total group sales in 2023. Despite this, the safety certification lapses necessitated actions to address the issue, including Daihatsu's removal from the Commercial Japan Partnership Technologies (CJPT). This partnership, initially established by Toyota, Hino, and Isuzu Motors for technology development in commercial vehicles, saw Daihatsu's participation alongside Suzuki Motor. The decision to transfer Daihatsu's 10 per cent equity stake in CJPT to Toyota underscores the gravity of the situation. (With inputs from Reuters)

Toyota announces leadership changes at Daihatsu following safety test scandal

Toyota is hitting the gas on profits! The Japanese automaker has raised its full-year forecast, thanks to soaring sales of hybrid vehicles and a boost from the weaker yen.

Toyota surges past expectations

Japan's leading automaker, Toyota has revised its full fiscal year profit forecast upwards following robust earnings in the October to December quarter, where profits nearly doubled compared to the previous year. <o:p></o:p>

According to media reports, the third-quarter profit soared to 1.36 trillion yen ($9 billion), marking a substantial recovery from the setbacks faced during the computer chip production disruptions triggered by the COVID-19 pandemic. <o:p></o:p>

The company's solid performance over the first nine months of the fiscal year resulted in 3.9 trillion yen ($26 billion) profit, more than double the figure achieved in the preceding fiscal year.<o:p></o:p>

A key factor contributing to Toyota's success is the favourable exchange rate, with a weak yen boosting the value of overseas earnings when converted into yen. <o:p></o:p>

The recent exchange rate of about 148 yen to the dollar, compared to 140 yen a year ago, played a pivotal role in enhancing the company's financial performance. <o:p></o:p>

Quarterly sales also experienced an uptick, rising by 23 per cent to 12.04 trillion yen ($81 billion) from 9.75 trillion yen.<o:p></o:p>

Toyota, headquartered in Toyota City, central Japan, responded to its performance by revising its full fiscal year profit forecast to 4.5 trillion yen ($30 billion), surpassing its earlier projection of 3.95 trillion yen ($27 billion). <o:p></o:p>

Similarly, the sales projection for the fiscal year was adjusted to 43.5 trillion yen ($294 billion), up from the initial estimate of 43 trillion yen ($290 billion). <o:p></o:p>

The company attributes these positive adjustments to cost-cutting measures, strategic marketing efforts, and the favourable effects of currency exchange rates.<o:p></o:p>

However, amid the overall positive outlook, Toyota did not raise its vehicle sales forecast for the fiscal year. <o:p></o:p>

Instead, it slightly reduced the forecast to 9.45 million vehicles, compared to the previous expectation of 9.6 million vehicles. <o:p></o:p>

Despite this adjustment, the forecast still exceeds the previous fiscal year's sales of 8.8 million vehicles, showcasing Toyota's resilience in navigating challenges, particularly the global shortage of computer chips that has affected the entire automotive industry.<o:p></o:p>

The impact of the chip shortage is notably felt within Toyota's group, with Daihatsu Motor Co., responsible for manufacturing small models, temporarily suspending production under Japanese government orders. <o:p></o:p>

The automaker admitted to falsifying safety tests for decades, leading to a scandal that surfaced in April 2023. <o:p></o:p>

While the impact on Toyota's overall sales and profits is expected to be limited due to Daihatsu's relatively small contribution, the company acknowledges a potential decline in Japanese sales due to the subsidiary's issues, posing a challenge to Toyota's brand image.<o:p></o:p>

Despite the challenges posed by the Daihatsu scandal and similar irregularities in other group companies, including Hino and Toyota Industries, Toyota remains optimistic about its overall financial outlook. <o:p></o:p>

Japan's leading automaker, Toyota has revised its full fiscal year profit forecast upwards following robust earnings in the October to December quarter, where profits nearly doubled compared to the previous year.

Japan's leading automaker, Toyota has revised its full fiscal year profit forecast upwards following robust earnings in the October to December quarter, where profits nearly doubled compared to the previous year. According to media reports, the third-quarter profit soared to 1.36 trillion yen ($9 billion), marking a substantial recovery from the setbacks faced during the computer chip production disruptions triggered by the COVID-19 pandemic. The company's solid performance over the first nine months of the fiscal year resulted in 3.9 trillion yen ($26 billion) profit, more than double the figure achieved in the preceding fiscal year. A key factor contributing to Toyota's success is the favourable exchange rate, with a weak yen boosting the value of overseas earnings when converted into yen. The recent exchange rate of about 148 yen to the dollar, compared to 140 yen a year ago, played a pivotal role in enhancing the company's financial performance. Quarterly sales also experienced an uptick, rising by 23 per cent to 12.04 trillion yen ($81 billion) from 9.75 trillion yen. Toyota, headquartered in Toyota City, central Japan, responded to its performance by revising its full fiscal year profit forecast to 4.5 trillion yen ($30 billion), surpassing its earlier projection of 3.95 trillion yen ($27 billion). Similarly, the sales projection for the fiscal year was adjusted to 43.5 trillion yen ($294 billion), up from the initial estimate of 43 trillion yen ($290 billion). The company attributes these positive adjustments to cost-cutting measures, strategic marketing efforts, and the favourable effects of currency exchange rates. However, amid the overall positive outlook, Toyota did not raise its vehicle sales forecast for the fiscal year. Instead, it slightly reduced the forecast to 9.45 million vehicles, compared to the previous expectation of 9.6 million vehicles. Despite this adjustment, the forecast still exceeds the previous fiscal year's sales of 8.8 million vehicles, showcasing Toyota's resilience in navigating challenges, particularly the global shortage of computer chips that has affected the entire automotive industry. The impact of the chip shortage is notably felt within Toyota's group, with Daihatsu Motor Co., responsible for manufacturing small models, temporarily suspending production under Japanese government orders. The automaker admitted to falsifying safety tests for decades, leading to a scandal that surfaced in April 2023. While the impact on Toyota's overall sales and profits is expected to be limited due to Daihatsu's relatively small contribution, the company acknowledges a potential decline in Japanese sales due to the subsidiary's issues, posing a challenge to Toyota's brand image. Despite the challenges posed by the Daihatsu scandal and similar irregularities in other group companies, including Hino and Toyota Industries, Toyota remains optimistic about its overall financial outlook.

Toyota boosts profit outlook as earnings surge, fuelled by weak yen: Report

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;<o:p></o:p>

Paytm faces regulatory hurdles in India while Walmart, Google seize market opportunity<o:p></o:p>

In the wake of a regulatory crackdown, India's leading digital payments platform, Paytm, finds itself in turbulent waters as retailers express apprehension, opening doors for retail giants Walmart and Google to make significant inroads into the market.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/paytm-faces-regulatory-hurdles-in-india-while-walmart-google-seize-market-opportunity-687706">Read more here</a><o:p></o:p>

Toyota boosts profit outlook as earnings surge, fuelled by weak yen: Report<o:p></o:p>

Japan's leading automaker, Toyota has revised its full fiscal year profit forecast upwards following robust earnings in the October to December quarter, where profits nearly doubled compared to the previous year.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/toyota-boosts-profit-outlook-as-earnings-surge-fuelled-by-weak-yen-report-687713">Read more here</a><o:p></o:p>

Nintendo boosts Switch sales forecast, hints at new hardware launch<o:p></o:p>

Nintendo has elevated its full-year Switch sales forecast to 15.5 million units, up from the previous estimate of 15 million units, driven by robust sales during the year-end shopping season.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/nintendo-boosts-switch-sales-forecast-hints-at-new-hardware-launch-687736">Read more here</a><o:p></o:p>

Paytm CEO Advised by Government: No intervention in RBI clampdown<o:p></o:p>

Following the Reserve Bank of India's (RBI) recent restrictions on Paytm, the company's CEO, Vijay Shekhar Sharma, met with Finance Minister Nirmala Sitharaman to discuss the matter.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/paytm-ceo-advised-by-government-no-intervention-in-rbi-clampdown-687746">Read more here</a><o:p></o:p>

Solar Industry Crossroads: Europe grapples with Chinese imports amid green energy boom<o:p></o:p>

Europe's ambitious journey towards green energy is facing a significant challenge, caught in a dilemma between soaring installations driven by cheap Chinese solar panel imports and the devastating impact on local solar manufacturers.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/solar-industry-crossroads-europe-grapples-with-chinese-imports-amid-green-energy-boom-687755">Read more here</a><o:p></o:p>

DBS CEO's pay slashed following digital banking disruptions amid record profits<o:p></o:p>

Singapore's leading lender, DBS Group, reported record-breaking full-year results, yet Chief Executive Officer Piyush Gupta faced a significant reduction in compensation due to digital banking disruptions witnessed last year.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/dbs-ceos-pay-slashed-following-digital-banking-disruptions-amid-record-profits-687763">Read more here</a><o:p></o:p>

Honda recalls 750,000 US vehicles due to airbag defect, urges prompt action<o:p></o:p>

Honda announced on Tuesday that it is recalling 750,000 vehicles in the United States, citing a potential defect involving airbags that could unintentionally deploy during a crash.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/honda-recalls-750000-us-vehicles-due-to-airbag-defect-urges-prompt-action-687775">Read more here</a><o:p></o:p>

China escalates crackdown on short-selling with stringent measures<o:p></o:p>

In a move to curb short-selling, China's securities regulator announced on Tuesday a series of stringent measures, including the suspension of brokerages from borrowing shares for lending and imposing a cap on the size of securities re-lending businesses.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/china-escalates-crackdown-on-short-selling-with-stringent-measures-687781">Read more here</a><o:p></o:p>

Disney, Fox, Warner Bros Discovery unite to launch sports streaming platform<o:p></o:p>

In a new collaboration, Fox Corp, Disney, and Warner Bros Discovery announced on Tuesday their plans to introduce a joint sports streaming service in the upcoming autumn, aiming to capture the attention of younger audiences increasingly turning away from traditional television.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/disney-fox-warner-bros-discovery-unite-to-launch-sports-streaming-platform-687788">Read more here</a><o:p></o:p>

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Paytm faces regulatory hurdles in India while Walmart, Google seize market opportunity In the wake of a regulatory crackdown, India's leading digital payments platform, Paytm, finds itself in turbulent waters as retailers express apprehension, opening doors for retail giants Walmart and Google to make significant inroads into the market.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Paytm faces regulatory hurdles in India while Walmart, Google seize market opportunity In the wake of a regulatory crackdown, India's leading digital payments platform, Paytm, finds itself in turbulent waters as retailers express apprehension, opening doors for retail giants Walmart and Google to make significant inroads into the market. Read more here Toyota boosts profit outlook as earnings surge, fuelled by weak yen: Report Japan's leading automaker, Toyota has revised its full fiscal year profit forecast upwards following robust earnings in the October to December quarter, where profits nearly doubled compared to the previous year. Read more here Nintendo boosts Switch sales forecast, hints at new hardware launch Nintendo has elevated its full-year Switch sales forecast to 15.5 million units, up from the previous estimate of 15 million units, driven by robust sales during the year-end shopping season. Read more here Paytm CEO Advised by Government: No intervention in RBI clampdown Following the Reserve Bank of India's (RBI) recent restrictions on Paytm, the company's CEO, Vijay Shekhar Sharma, met with Finance Minister Nirmala Sitharaman to discuss the matter. Read more here Solar Industry Crossroads: Europe grapples with Chinese imports amid green energy boom Europe's ambitious journey towards green energy is facing a significant challenge, caught in a dilemma between soaring installations driven by cheap Chinese solar panel imports and the devastating impact on local solar manufacturers. Read more here DBS CEO's pay slashed following digital banking disruptions amid record profits Singapore's leading lender, DBS Group, reported record-breaking full-year results, yet Chief Executive Officer Piyush Gupta faced a significant reduction in compensation due to digital banking disruptions witnessed last year. Read more here Honda recalls 750,000 US vehicles due to airbag defect, urges prompt action Honda announced on Tuesday that it is recalling 750,000 vehicles in the United States, citing a potential defect involving airbags that could unintentionally deploy during a crash. Read more here China escalates crackdown on short-selling with stringent measures In a move to curb short-selling, China's securities regulator announced on Tuesday a series of stringent measures, including the suspension of brokerages from borrowing shares for lending and imposing a cap on the size of securities re-lending businesses. Read more here Disney, Fox, Warner Bros Discovery unite to launch sports streaming platform In a new collaboration, Fox Corp, Disney, and Warner Bros Discovery announced on Tuesday their plans to introduce a joint sports streaming service in the upcoming autumn, aiming to capture the attention of younger audiences increasingly turning away from traditional television. Read more here

WION Business Wrap | Paytm’s rising competition, Toyota’s recent profits and more

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