Toyota plans to invest $13 billion on EVs, AI and supply chain
Driven by a strong demand for hybrid vehicles and a weak yen, Toyota has reported a record net profit of $31.8 billion for fiscal year 2023–24
Japan’s largest automaker Toyota Motor Corp. plans to invest ¥2 trillion (about $12.9 billion) on new technology development, including electric vehicles and hydrogen propulsion systems, as well as on strengthening its supply chain management in the financial year ending March 2025, according to a news report published by Nikkei Asia on May 8.
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