Toyota sets aggressive target for EVs
Toyota sets an aggressive new target for its goal of having electrified vehicles account for
roughly half of sales. Toyota is forming new partnerships with other carmakers and battery
producers as it seeks to win the race to electric and autonomous cars.
The world’s second-largest carmaker's goal of having electrified vehicles account for roughly
half of sales has been pushed forward five years in a show of seriousness.
Toyota and Panasonic secure US lithium to boost EV capacity
In 2019, Electrek reported that Toyota and Panasonic were forming a partnership to produce EV
batteries. So far, the venture is working on building affordable batteries at scale. The new supply
agreement is a big step for Toyota, which is looking to ramp production in key markets.
Toyota Invests $1 Billion in AI and Robots, Will Open R&D Lab in
Silicon Valley
In Tokyo, Toyota announced that it is investing US $1 billion over the next five years to establish
a new R&D arm headquartered in Silicon Valley and focused on artificial intelligence and
robotics.
Toyota starts a new $2.8 billion company to develop self-driving software
The Japanese automaker is starting the company in conjunction with automotive supplier Aisin
Seiki and Denso, and together, they plan to invest $2.8 billion into TRI-AD in the coming years
and hire around 1,000 employees in order to develop software systems that can power fully
self-driving vehicles.
Where Will Toyota Motors Be in 5 Years?
Toyota Motor Corporation is a global auto manufacturer based in Japan, manufacturing popular
vehicles such as the Camry, Tacoma, and Rav4. Over the past five years, net revenues have
increased from $226.97 billion in 2015 to $272.75 billion in 2019, a compound annual growth
rate of 3.74%. Looking beyond the impact from the coronavirus, let's see how Toyota will
continue growing during the next five years.
