Toyota aims to sell 500,000 EVs in 2025, chasing VW's 3m
Nikkei -- Jan 09
Toyota Motor seeks to sell 500,000 electric vehicles worldwide in 2025, Nikkei has learned, a volume that puts it far behind leading global rival Volkswagen but would satisfy environmental rules in China and Europe.

Japan's top automaker will release electric models such as the Lexus UX 300e sport utility vehicle in China and Europe this year. At least 10 new models will debut internationally by 2025.

By comparison, Volkswagen aims to top sales of 3 million EVs in 2025. U.S. electric-vehicle maker Tesla expects eventually to reach an annual capacity of 500,000 units at its new Gigafactory in Shanghai.

Long focused on hybrids and the distant goal of hydrogen-powered fuel cell cars, Toyota needs to boost its output of EVs as it faces stronger environmental standards for automakers in key markets.

"We won't be able to clear forthcoming regulations with hybrid vehicles, and EV and other technology will be necessary," said Executive Vice President Shigeki Terashi, who leads Toyota's electrification effort.

China last year began enforcing a production and sales quota for so-called new-energy vehicles, while Europe will bolster emissions standards in 2021. This regulatory trend is expected to continue beyond 2025.

Yet hybrids will remain the core of the automaker's electrification strategy, so its volume of EVs will be limited compared with rivals. Europe and China occupy relatively small shares of Toyota's overall sales, which factors into the EV target as well.

News source: Nikkei
Aug 15
Faced with the popularity of the Line chat app in home-bound Japan, Katsuhiko Kawazoe, head of research and development planning at Nippon Telegraph & Telephone, has been asking himself: "Why could we not develop a service like this?" (Nikkei)
Aug 14
ANA Holdings is in discussions for 500 billion yen ($4.6 billion) in financing from the Development Bank of Japan as well as private financial institutions, Nikkei has learned, as the airline company braces for a prolonged plunge in passenger numbers amid the coronavirus pandemic. (Nikkei)
Aug 14
McDonald’s Holdings Co. (Japan) said first-half sales rose 2.0 percent from a year earlier to ¥139.24 billion ($1.3 billion) as demand for takeaway and delivery services rose amid the coronavirus pandemic. (Japan Times)
Aug 11
SoftBank Group on Tuesday reported a net profit of 1.25 trillion yen ($11.8 billion) in the April-June quarter thanks to the merger and sale of its stake in U.S. mobile carrier Sprint, marking a return to profit after suffering its worst ever loss in the previous quarter. (Nikkei)
Aug 10
Despite uncertainties from COVID-19, top Japanese corporations plan to invest 15.8% more in information technology in fiscal 2020 to keep up the wave of digitization across industries. (Nikkei)
Aug 10
Colorful kimono are synonymous with Tokyo summer celebrations but anti-coronavirus measures have put social gatherings off-limits and led struggling department stores to push the traditional Japanese outfits as a way to make a virtual fashion statement. (Japan Times)
Aug 07
Official figures indicate that Japanese households may be recovering from the economic impact of COVID-19. Spending was down in June, but by a much smaller margin than the month before. (NHK)
Aug 07
Japan's powerful business lobby, the Keidanren, is dominated by energy-intensive sectors that represent less than 10 percent of the economy, resulting in national policies that favour coal and hindering attempts to combat climate change, a new study said. (aljazeera.com)
Aug 07
Toyota’s profit plunged 74% in the last quarter as the coronavirus pandemic sank vehicle sales to about half of what the top Japanese automaker sold the previous year. (krmg.com)
Aug 06
The average summer bonus at major Japanese companies this year dropped 2.17 percent from a year earlier to ¥901,147, a Japan Business Federation survey showed Wednesday. (Japan Times)