Toyota To Delay EV Production In North America Due To Slowing Sales: Report
Portfolio Pulse from Lekha Gupta
Toyota is delaying its North American EV production to 2026 due to slowing sales and design adjustments. The company plans to launch 10 new EV models by 2026 and has reduced its EV production target. Toyota also announced a $500 million investment in Joby Aviation for electric air taxis.
October 03, 2024 | 1:56 pm
News sentiment analysis
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NEGATIVE IMPACT
Toyota delays North American EV production to 2026 due to slowing sales and design adjustments. The company also reduced its EV production target for 2026.
The delay in EV production and reduction in production targets indicate potential challenges in Toyota's EV strategy, negatively impacting investor sentiment and causing a premarket share price drop.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Investors can gain exposure to Toyota through the Trust for Professional Managers ActivePassive International Equity ETF.
APIE provides exposure to Toyota, but the direct impact of Toyota's news on the ETF is limited due to its diversified holdings.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
Investors can gain exposure to Toyota through the Avantis International Large Cap Value ETF.
AVIV provides exposure to Toyota, but the direct impact of Toyota's news on the ETF is limited due to its diversified holdings.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30
POSITIVE IMPACT
Toyota invests $500 million in Joby Aviation to support electric air taxi certification and production, increasing its stake to $894 million.
Toyota's significant investment in Joby Aviation suggests confidence in the electric air taxi market, likely boosting Joby's stock as it supports certification and production efforts.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80