Two top Japanese automakers said they planned to tighten their belts in the years ahead to free up cash to develop electric cars and ride-sharing services, underscoring the hard task ahead as traditional automakers face a rapidly changing industry. Toyota Motor Corporation, the country’s top automaker,
Uber’s autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corporation, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering.
Toyota Motor Corp last month announced two deals in China that were small in size but large in strategic planning. The automaker said it would establish a green-tech research institute with Tsinghua University and provide state-owned BAIC Group’s Foton unit with fuel-cell technology for buses.
Japan’s Toyota Motor Corporation and Panasonic Corporation said they plan to establish a joint venture (JV) to develop “connected” services to be used in homes and urban development. Operating officer of Toyota Masayoshi Shirayanagi and Managing Executive Officer of Panasonic Makoto Kitano were present during a press conference in Tokyo on Thursday
Toyota Motor Corporation has started using the same type of battery that Panasonic Corporation designed for Tesla in some of its plug-in hybrids sold in China, sources familiar with the matter said.
Toyota Motor Corporation and Suzuki Motor Corpotation will take small equity stakes in each other, the Japanese car makers said, as they seek to develop newer technologies and meet sweeping changes upending the global auto industry.
Japanese automakers posted sharper sales falls in South Korea in August, industry data showed on Wednesday, hit by a consumer boycott of Japanese vehicles amid a worsening
Toyota Motor Corporation lowered its annual operating profit forecast while Honda Motor turned in a double-digit decline in quarterly earnings as a resurgent yen hurt two of Japan’s biggest automakers.
Fiat Chrysler and Peugeot SA sealed their long-awaited merger on Saturday to create Stellantis, the world’s fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen.