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Toyota to launch EV, battery unit in China by 2027
Toyota Motorwill establish a wholly owned company in Shanghai to develop and produce electric vehicles and batteries for the Lexus brand, with production set to start in 2027, the worlds top-selling automaker said on Wednesday. In a statement, Toyota said the unit would develop a new Lexus EV...
Toyota sells 10.8 million vehicles in 2024, retains top spot
Toyota Motor sold 10.8 million vehicles in 2024, it said on Thursday, remaining the worlds top-selling automaker for a fifth straight year. The Japanese automaker posted a 3.7 percent drop in global group unit sales last year, including those of compact car maker Daihatsu and truck unit Hino...
Toyota’s global production declines for 10th month despite rising sales
Toyota Motor Corporation reported its 10th consecutive monthly decline in global production for November, even as sales rose for the second straight month. The Japanese automaker produced 869,230 vehicles worldwide, a 6.2% drop compared to the same month last year and a steeper decline than...
Honda, Nissan inks deal to enter age of electric cars
Honda and Nissan confirmed on Monday that they had inked a memorandum of understanding as the Japanese automakers struggle with competition from rival brands in the electric vehicle (EV) market. The merger would create the third largest car maker by sales, behind Toyota and Volkswagen. Nissan...