Results for: Toyota

Toyota has furthered its commitment to the future of air mobility by investing an additional $500 million in Joby Aviation, a California-based company leading the charge in electric air taxi development. This latest investment brings Toyota’s total contribution to Joby to nearly $900 million, highlighting the Japanese automaker’s belief in the potential of this emerging transportation technology. The partnership aims to accelerate the development and certification of Joby’s electric air taxi, which promises a faster, quieter, and cleaner alternative to traditional ground transportation.

Toyota Motor Corporation has announced a further $500 million investment in Joby Aviation, a company developing electric air taxis. This investment brings Toyota’s total investment in Joby to $894 million, reflecting a shared vision for the future of air mobility.

Toyota Motor Corporation saw a decline in overall U.S. sales in September, but electrified vehicle sales continued to rise, highlighting the company’s focus on this segment. The company’s Lexus division, however, reported strong sales growth for the third quarter.

Toyota reported a 3.1% decline in global vehicle sales for August, primarily driven by weak sales in Japan and China. However, the company saw an increase in the US market, thanks to the popularity of the new Camry. Toyota’s EV sales continued to grow, with a 23% increase compared to August 2023.

Toyota Motor Corporation has announced an increase in its share buyback program, raising the total to $8.31 billion. This move signifies the company’s confidence in its stock price and market conditions. The share repurchase program aims to buy back up to 530 million shares, representing 3.93% of outstanding shares, excluding treasury shares. Toyota’s share buyback plan underscores its strategy to manage its shareholdings and navigate the current market environment.

Traditional automakers like Toyota and Volkswagen are struggling to keep up with Tesla and Chinese rivals in the race for software dominance in the electric vehicle (EV) market. A new report from the Financial Times highlights the gap in digital capabilities, with Tesla, Nio, and Xpeng leading the charge. The report also discusses the challenges faced by Chinese EV manufacturers due to the economic slowdown and US sanctions.

Toyota Motor Corporation has reportedly reduced its electric vehicle production target for 2026 by 30%, citing weakening global demand. Meanwhile, the Japanese government is significantly increasing its support for EV battery production with a $2.4 billion investment to bolster the industry. The investment will benefit several major companies including Toyota and aims to increase Japan’s annual storage battery production capacity by 50%.

Toyota Motor has reduced its electric vehicle (EV) production target for 2026 to one million cars, a 30% decrease from its initial goal. This decision comes as the global EV market faces a slowdown, with other automakers also scaling back their ambitions. Despite the cut, Toyota still anticipates significant growth in EV sales.

Toyota Motor Corporation (TM) has announced an expanded collaboration with BMW to develop a new generation of hydrogen fuel cell powertrain systems, aiming to accelerate the adoption of hydrogen-powered vehicles. This partnership will see the launch of BMW’s first series production fuel cell electric vehicle (FCEV) in 2028 and will leverage both companies’ expertise in electric drive technologies.

Toyota is recalling over 43,000 Sequoia SUVs in the U.S. due to a potential issue with the tow hitch detaching from the vehicle. The recall covers 2023 and 2024 model year Sequoias, and dealerships will replace the tow hitch cover and modify the rear bumper at no cost to owners.