Is Toyota Ready To Take On Tesla For Electric Vehicle Lead? 'I Don't Know If Love Can Beat Tesla'
Portfolio Pulse from Chris Katje
Toyota Motor Corp (NYSE:TM) plans to increase its focus on electric vehicles (EVs), with a goal to sell 3.5 million battery-powered EVs in 2030. The company's new EV division president, Takero Kato, aims to achieve the same range for these EVs as Toyota's existing hybrid vehicles. To reach this goal, Toyota will invest more in battery plants and start producing battery-powered EVs in the U.S. in 2025. This comes as industry peers like General Motors Co (NYSE:GM) and Ford Motor Co (NYSE:F) have partnered with Tesla Inc (NASDAQ:TSLA) on EV charging infrastructure.
July 05, 2023 | 9:52 pm
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NEUTRAL IMPACT
Stellantis NV is not directly impacted by the news.
Stellantis NV is mentioned in the article only in the context of its stock performance and is not directly impacted by the news.
CONFIDENCE 100
IMPORTANCE 0
RELEVANCE 0
POSITIVE IMPACT
Ford's partnership with Tesla on EV charging infrastructure could potentially boost its market position and share price.
Ford's partnership with Tesla on EV charging infrastructure could potentially boost its market position and share price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
GM's partnership with Tesla on EV charging infrastructure could potentially boost its market position and share price.
GM's partnership with Tesla on EV charging infrastructure could potentially boost its market position and share price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Toyota's increased focus on EVs could potentially boost its market position and share price.
Toyota's increased focus on EVs and its ambitious goal to sell 3.5 million battery-powered EVs by 2030 could potentially boost its market position and share price. The company's plan to start producing these vehicles in the U.S. in 2025 could also contribute to this.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tesla could potentially benefit from partnerships with other automakers on EV charging infrastructure.
Tesla's partnerships with other automakers like GM and Ford on EV charging infrastructure could potentially benefit the company and boost its share price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50