Toyota Charges Forward - Aiming 600K EV Production By 2025: Report
Portfolio Pulse from Nabaparna Bhattacharya
Toyota Motor Corporation (NYSE:TM) plans to accelerate the production of electric vehicles (EVs) for its Toyota and Lexus brands, aiming to reach an annual output of over 600,000 vehicles by 2025. The company initially targeted sales of 1.5 million EVs yearly by 2026 and 3.5 million by 2030. Toyota is also working on its prototype equipment for the Giga casting technology, which improves the quality of castings and reduces the number of defective products.
September 22, 2023 | 2:16 pm
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Toyota's accelerated EV production and improvement in product quality through Giga casting technology could potentially boost its market position and stock value.
Toyota's increased focus on EV production and quality improvement aligns with the growing demand for EVs, which could potentially increase its sales and revenue, thereby positively impacting its stock value.
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