ASIATODAY.ID, JAKARTA – Toyota Motor Corporation is preparing a large investment worth 2 trillion yen, or the equivalent of US$ 13 billion for the development of electric cars.
This plan was revealed in Toyota’s annual public presentation in Tokyo, Japan, on Thursday, May 9 2024, which was broadcast online. Overall, Toyota Motor’s financial and operational performance throughout the 2024 fiscal year which ends in March, experienced growth.
On this occasion, TMC CFO Yoichi Miyazaki appreciated all parties, from consumers, suppliers, to the dealer network who trusted Toyota.
“We respect all Toyota consumers, suppliers and dealers throughout the world. “We are committed to products and services, to grow together with all stakeholders,” he said.
On the other hand, in his presentation, Toyota’s entire business strategy, which refers to regional-based product management, has succeeded in achieving positive performance. Throughout the 2023/2024 fiscal year, Toyota recorded operating income of 5.35 trillion yen. Meanwhile, in the 2024/2025 fiscal year, Toyota plans to expand the range of products oriented towards eliminating carbon.
Toyota has prepared large funds of around 2 trillion yen or the equivalent of US$ 13 billion to pursue its operating income target of 4.3 trillion yen. The investment will be allocated for human resource development covering the supply chain to the dealer network. The total investment reached 380 billion yen.
Meanwhile, large funds are being prepared to carry out mobility transformation. This is in line with Toyota’s multi-pathway campaign which is developing cars based on various technologies, ranging from BEV, HEV, PHEV, to hydrogen. This development investment is supplemented by building the software define vehicles (SDV) foundation which reaches 1.7 trillion yen.
Overall, Toyota’s operational performance experienced growth in the last period. In terms of sales, Toyota managed to sell around 9.44 million car units throughout the 2024 fiscal year, growing 7% compared to 8.82 million units in the previous period.
Toyota’s main markets apart from Japan, respectively, are North America, amounting to 2.8 million units, Asia with 1.8 million units, Europe 1.19 million units. The remaining 1.63 million units cover Central and South America, Oceania, Africa and the Middle East. (ATN)
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