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    7203   JP3633400001

TOYOTA MOTOR CORPORATION

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Toyota exec: Not everyone should drive a battery electric vehicle

10/21/2021 | 02:45pm EST

(Adds context on Toyota's support of gasoline-electric hybrid vehicles and opposition to proposed bans on gasoline vehicles)

Oct 21 (Reuters) - Many people are passionate about climate change, but not everybody should drive a battery electric vehicle as a means to combat climate change, Toyota Motor Corp Chief Scientist Gill Pratt said on Thursday at the Reuters Events Automotive Summit.

Pratt's comments, during a discussion on electric vehicles, appeared to amplify remarks made over the past year by Toyota President Akio Toyoda.

Toyoda and other company officials have said that electric vehicles will play a greater role in reducing emissions, but other solutions should be used, Toyota's gasoline-electric hybrid models or hydrogen-powered fuel cell electric vehicles.

At Thursday's conference, Pratt said Toyota believes in "diversity of drivetrains" to give customers different tools to reduce CO2.

"It's not for us to predict which solution is the best or say only this will work," he said.

Government incentives should be aimed at reducing carbon emissions, not picking which car technology is the best way to achieve those goals, Pratt added, in a reference to proposed bans on internal combustion engine (ICE) vehicles, including hybrids, as a means of achieving carbon neutrality.

Toyota was among major automakers that supported the Trump administration in its attempt to bar California from setting its own zero-emission requirements, but the company dropped that support earlier this year.

Toyota has said it plans to invest $13.5 billion through 2030 on EV batteries, but so far its plans to roll out new battery electric vehicles (BEVs) seem relatively modest compared with those of U.S. automakers General Motors Co and Ford Motor Co, which are spending around $30 billion each through 2025 to electrify more of their vehicle lines.

Toyota executives continue to tout the merits of the company's hybrid vehicles, which have been on the market for more than 20 years. (Reporting by Paul Lienert in Detroit Editing by Matthew Lewis and Nick Zieminski)


ę Reuters 2021
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Analyst Recommendations on TOYOTA MOTOR CORPORATION
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Financials
Sales 2022 31 136 B 276 B 276 B
Net income 2022 2 750 B 24 378 M 24 378 M
Net Debt 2022 17 347 B 154 B 154 B
P/E ratio 2022 10,4x
Yield 2022 2,85%
Capitalization 27 868 B 245 B 247 B
EV / Sales 2022 1,45x
EV / Sales 2023 1,34x
Nbr of Employees 366 283
Free-Float 69,9%
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Toyota Motor Corporation Technical Analysis Chart | 7203 | JP3633400001 | MarketScreener
Technical analysis trends TOYOTA MOTOR CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 2 001,00 JPY
Average target price 2 333,50 JPY
Spread / Average Target 16,6%
EPS Revisions
Managers and Directors
Akio Toyoda Executive President, CEO & Representative Director
Kenta Kon CFO, Director & Chief Officer-Accounting Group
Takeshi Uchiyamada Chairman
Keiji Yamamoto Chief Information, Security & Software Officer
Seiji Sakai Manager-Information Systems & IT Management
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