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<blockquote data-quote="Weather Man" data-source="post: 16834351" data-attributes="member: 137766"><p>Toyota finally caves to reality.</p><p></p><h3><a href="https://seekingalpha.com/news/3894214-toyota-is-in-a-mad-scramble-to-catch-up-in-electric-vehicles-after-once-being-an-early-tesla-investor?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Toyota is in a mad scramble to catch up in electric vehicles after once being an early Tesla investor</a></h3><p><a href="https://seekingalpha.com/symbol/TM?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">TM +0.43%</a>Oct. 24, 2022 12:56 PM ET<a href="https://seekingalpha.com/news/3894214-toyota-is-in-a-mad-scramble-to-catch-up-in-electric-vehicles-after-once-being-an-early-tesla-investor?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments" target="_blank">5 Comments</a></p><p></p><p>There could be a major <a href="https://www.reuters.com/business/autos-transportation/exclusive-toyota-scrambles-ev-reboot-with-eye-tesla-2022-10-24/" target="_blank">revamp</a> of the electric vehicle strategy at Toyota Motor Corporation (NYSE:<a href="https://seekingalpha.com/symbol/TM" target="_blank">TM</a>) after a sputtering start. While the Japanese automaker brought the all-electric bz4X crossover to the market this year, the launch has not created much buzz and was blemished by a recall.</p><p>Toyota (<a href="https://seekingalpha.com/symbol/TM" target="_blank">TM</a>) is now considering a reboot and has even halted work on a few existing electric vehicles, according to an exclusive report from Reuters. Sources indicated that the proposals under review would be dramatic shifts in nature and could include a new EV architecture.</p><p>A working group within Toyota (<a href="https://seekingalpha.com/symbol/TM" target="_blank">TM</a>) is expected to disclose sweeping electric vehicle plans by early next year, although the company has not officially confirmed any review or timetable.</p><p>"In order to achieve carbon neutrality, Toyota's own technology - as well as the work we are doing with a range of partners and suppliers - is essential," responded Toyota generally to the report.</p><p>Toyota's (<a href="https://seekingalpha.com/symbol/TM" target="_blank">TM</a>) late pivot to a new electric vehicle strategy is considered a recognition by top management that Tesla (<a href="https://seekingalpha.com/symbol/TSLA" target="_blank">TSLA</a>) has set a new benchmark for EV design and manufacturing costs. Toyota had an early stake in Tesla and collaborated with the company on the RAV4, but sold its TSLA shares in 2017 and the electric RAV4 did not survive past 2014.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16834351, member: 137766"] Toyota finally caves to reality. [HEADING=2][URL='https://seekingalpha.com/news/3894214-toyota-is-in-a-mad-scramble-to-catch-up-in-electric-vehicles-after-once-being-an-early-tesla-investor?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Toyota is in a mad scramble to catch up in electric vehicles after once being an early Tesla investor[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/TM?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']TM +0.43%[/URL]Oct. 24, 2022 12:56 PM ET[URL='https://seekingalpha.com/news/3894214-toyota-is-in-a-mad-scramble-to-catch-up-in-electric-vehicles-after-once-being-an-early-tesla-investor?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments']5 Comments[/URL] There could be a major [URL='https://www.reuters.com/business/autos-transportation/exclusive-toyota-scrambles-ev-reboot-with-eye-tesla-2022-10-24/']revamp[/URL] of the electric vehicle strategy at Toyota Motor Corporation (NYSE:[URL='https://seekingalpha.com/symbol/TM']TM[/URL]) after a sputtering start. While the Japanese automaker brought the all-electric bz4X crossover to the market this year, the launch has not created much buzz and was blemished by a recall. Toyota ([URL='https://seekingalpha.com/symbol/TM']TM[/URL]) is now considering a reboot and has even halted work on a few existing electric vehicles, according to an exclusive report from Reuters. Sources indicated that the proposals under review would be dramatic shifts in nature and could include a new EV architecture. A working group within Toyota ([URL='https://seekingalpha.com/symbol/TM']TM[/URL]) is expected to disclose sweeping electric vehicle plans by early next year, although the company has not officially confirmed any review or timetable. "In order to achieve carbon neutrality, Toyota's own technology - as well as the work we are doing with a range of partners and suppliers - is essential," responded Toyota generally to the report. Toyota's ([URL='https://seekingalpha.com/symbol/TM']TM[/URL]) late pivot to a new electric vehicle strategy is considered a recognition by top management that Tesla ([URL='https://seekingalpha.com/symbol/TSLA']TSLA[/URL]) has set a new benchmark for EV design and manufacturing costs. Toyota had an early stake in Tesla and collaborated with the company on the RAV4, but sold its TSLA shares in 2017 and the electric RAV4 did not survive past 2014. [/QUOTE]
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