SniperFx

Archives

  • March 2023
  • February 2023
  • January 2023
  • September 2022
  • August 2022
  • January 2022
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Analysis
  • Bonds
  • COVID
  • Crypto
  • Forex
  • Forex Trading
  • Ideas
  • Investing
  • Stocks
  • Uncategorized
  • World
  • Home
  • Forex
  • Crypto
  • Contact
0 Likes
0 Followers
0 Followers
Subscribe
SniperFx
SniperFx
  • Bonds
  • Crypto
  • COVID
  • Forex
    • Forex Trading
  • Ideas
  • Investing
  • Stocks
  • World

Toyota to ramp up on batteries, keep its options open, new CEO says

  • admin
  • February 13, 2023
  • 2 minute read
Total
0
Shares
0
0
0

Toyota Motor (NYSE:TM) Corp will ramp up its battery-electric offerings by focusing on its Lexus luxury brand, its incoming chief executive said on Monday, but the company will not deviate from a long held strategy of exploring other technologies.

The comments from Koji Sato, who takes over as the head of the world largest automaker from April 1, come as the Toyota has pushed back against critics that have said it has been too slow to embrace battery-powered electric vehicles.

Toyota, which popularised the hybrid technology of the Prius, has said that hybrids make better sense for many drivers, especially in markets where the infrastructure is not ready to support batteries. It has also championed hydrogen-powered cars as the future.

Sato said Toyota would accelerate its battery-electric offerings by focusing on the Lexus.

He was quick to point out, however, that this was not a big change in strategy and that Toyota would continue to focus on pursuing a number of different technologies in its drive towards carbon-neutral vehicles.

“This is not a fast pivot towards battery EVs,” he said, adding that much of the problem stemmed from one of “communication” about Toyota’s strategy.

“To the point that we have been slow at battery EV projects, I think around half of it is a communication issue,” he said.

He said the company was sticking to a previous goal of selling 3.5 million battery-electric vehicles by 2030.

He said there would be further communication in April about the strategy once his team assumed their roles.

An engineer by training, Sato started his career at Toyota in 1992 before rising through the ranks to become chief engineer of Lexus International in 2016.

While he oversaw the creation of Lexus’s first fully electric model, he has previously spoken of keeping open other options for powering vehicles.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
admin

Previous Article

BOJ governor speculation rattles Japanese yen, Nikkei index

  • admin
  • February 13, 2023
View Post
Next Article

Rescuers dig for three survivors in rubble in Turkey a week after earthquake

  • admin
  • February 13, 2023
View Post
You May Also Like
View Post
  • Stocks

Adidas retracts opposition to Black Lives Matter three-stripe design

  • admin
  • March 29, 2023
View Post
  • Stocks

Starbucks, union at odds over hybrid negotiations

  • admin
  • March 28, 2023
View Post
  • Stocks

Novartis shares surge on positive results from key cancer drug trial

  • admin
  • March 27, 2023
View Post
  • Stocks

Standard Chartered agrees to sell business in Jordan

  • admin
  • March 26, 2023
View Post
  • Stocks

Britain’s John Lewis has lost its soul, says Mary Portas

  • admin
  • March 25, 2023
View Post
  • Stocks

Citigroup CEO declares ‘this is not a credit crisis’ after U.S. bank failures

  • admin
  • March 23, 2023
View Post
  • Stocks

First Republic Bank shares climb amid report of possible government backstop

  • admin
  • March 22, 2023
View Post
  • Stocks

EU court rules Mercedes must pay damages in diesel lawsuit

  • admin
  • March 21, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Taiwan president defiant after China threatens retaliation for US trip
  • Adidas retracts opposition to Black Lives Matter three-stripe design
  • XRP Price Prediction What to Expect in the Next 48 Hours
  • HelenP. I Euro break resistance 1.0800 and can continue to grow
  • Concerns about insufficiently decisive Riksbank would put SEK under downward pressure – Commerzbank

Recent Comments

No comments to show.
Featured Posts
  • 1
    Taiwan president defiant after China threatens retaliation for US trip
    • March 29, 2023
  • 2
    Adidas retracts opposition to Black Lives Matter three-stripe design
    • March 29, 2023
  • 3
    XRP Price Prediction What to Expect in the Next 48 Hours
    • March 29, 2023
  • 4
    HelenP. I Euro break resistance 1.0800 and can continue to grow
    • March 29, 2023
  • 5
    Concerns about insufficiently decisive Riksbank would put SEK under downward pressure – Commerzbank
    • March 29, 2023
Recent Posts
  • EUR/USD comes under pressure near 1.0850
    • March 29, 2023
  • Crypto Trader Firmly Believes ADA’s Next Target Could Be $0.60
    • March 29, 2023
  • Game-Changer Nasal Spray A Universal Shield Against All COVID-19 Variants
    • March 29, 2023
Categories
  • Analysis (12)
  • Bonds (50)
  • COVID (77)
  • Crypto (69)
  • Forex (85)
  • Forex Trading (50)
  • Ideas (50)
  • Investing (50)
  • Stocks (93)
  • Uncategorized (40)
  • World (199)
SniperFx
  • Home
  • Forex
  • Crypto
  • Contact
Forex & Crypto Updates

Input your search keywords and press Enter.