Toyota - Business Outrank

Toyota has revealed plans to construct battery vehicles in the UK as it seeks to maintain all of its European factories, including those in the UK, as it moves towards producing electric vehicles. The company wants to keep its eight European factories open and transition to electric production over the next decade. This is because the transition will be done gradually in order not to affect the company’s profitability as a result of a decline in the rate of growth of battery car sales, especially in Europe. The Japanese automaker, which has been a leader in hybrid technology, has not been as quick to move to fully electric vehicles as its rivals. Nonetheless, Toyota has revealed that it has upgraded its profit forecasts after a year of success, selling 10.8 million cars around the world in 2024. At the launch event in Brussels, Toyota’s Chief Corporate Officer, Matt Harrison, stated that the company’s plan was to keep the UK plants that it established in 1992 and currently employ about 3,000 people. In line with this, the company’s move is consistent with the UK government’s more lenient position on the zero-emission vehicle (ZEV) mandate, especially after concerns arose over hybrids being prohibited by the ban on petrol and diesel vehicles by 2035. This change has been possible due to Toyota’s lobbying, which has allowed hybrids like the Prius to stay in the market until 2035. New electric models, including the updated bZ4X and C-HR+ SUV, were unveiled by Toyota, with more to follow by 2026. Harrison said that the company’s UK plant in Burnaston, Derbyshire, will produce battery vehicles, and Toyota will continue to be in the UK and European markets in the long term.

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