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Toyota Motor Corporation (NYSE: TM), headquartered in Toyota City, Aichi, Japan, is a global leader in automotive manufacturing. Founded by Kiichiro Toyoda in 1937, Toyota has grown to produce approximately 10 million vehicles annually, positioning itself as one of the world's largest automakers. The company's extensive portfolio includes well-known brands such as Toyota, Lexus, Daihatsu, and Hino trucks. In fiscal 2023, Toyota sold 10.56 million vehicles globally, capturing significant market shares in both Japan and the United States.
Toyota's product lineup spans from traditional gasoline cars to cutting-edge electrified vehicles. The company offers 27 electrified options, including Hybrid Electric Vehicles (HEVs), Plug-In Hybrid Electric Vehicles (PHEVs), Fuel Cell Electric Vehicles (FCEVs), and Battery Electric Vehicles (BEVs). As part of its commitment to innovation, Toyota is also involved in manufacturing homes, boats, and has a financing division to support its sales.
Recent Achievements:
- Toyota Motor North America (TMNA) reported a 21.8% increase in March 2024 U.S. sales, with electrified vehicles making up 36.4% of the total sales volume.
- TMNA's sales for the first quarter of 2024 were up by 20.3%, demonstrating strong market performance.
- Toyota's new investments in its U.S. operations include a $1.4 billion expansion to produce a new three-row battery electric SUV and a $1.3 billion investment in Toyota Kentucky for another BEV model.
Toyota has made strategic investments in various companies, including a 3.3% stake in Denso, 20% in Subaru, and shares in Uber Technologies, Joby Aviation, and others, reflecting its forward-thinking approach to mobility.
Current Projects:
- Toyota's Collaborative Safety Research Center (CSRC) is leading 15 new projects focusing on driver behavior, crash avoidance, and injury mitigation.
- The introduction of the all-new 2024 Tacoma with a hybrid powertrain, the 2024 Land Cruiser, and the 2025 Camry, all featuring hybrid technology.
- The establishment of Toyota’s North American Hydrogen Headquarters in Gardena, California, to advance fuel cell technology and hydrogen infrastructure.
- A partnership with the U.S. Department of Energy’s Argonne National Laboratory to develop a direct recycling process for lithium-ion batteries.
Partnerships and Community Engagement:
Toyota's commitment to community and environmental sustainability is evident through its 'Empact' vision, focusing on equitable EV charging and mobility for all. The company is installing high-power 350kW DC fast chargers in underserved communities in California.
For more information, visit www.ToyotaNewsroom.com.
Toyota announced that Torrence Racing will join Team Toyota for the 2022 NHRA Camping World Drag Racing Series season. This partnership expands Toyota's involvement to five Top Fuel dragsters and two Funny Cars. Torrence Racing, led by Steve and Billy Torrence, has achieved significant success, including 49 career victories and three championships. Steve currently leads the points standings, while Billy ranks fifth. Toyota supports its teams with advanced technology and resources through TRD, enhancing their competitive edge in the racing series.
The 2021 Toyota Mirai has set the GUINNESS WORLD RECORDS title for the longest distance driven by a hydrogen fuel cell electric vehicle without refueling, achieving 845 miles on a single five-minute fill. This record was validated during a two-day roundtrip tour across Southern California on August 23-24, 2021, with an impressive efficiency of 152 MPGe. The feat was monitored by Guinness World Records, showcasing Toyota's advancements in zero-emission technology and commitment to sustainable mobility.
Toyota Motor North America (TMNA) reported U.S. September 2021 sales of 152,916 vehicles, down 22.4% compared to September 2020. However, sales of alternative powered vehicles (APVs) reached 42,945, marking a 36% increase and comprising 28.1% of total sales. For Q3 2021, TMNA saw a 1.4% increase in total sales, totaling 566,005 vehicles, with APV sales soaring 62.5% year-over-year. Year-to-date, TMNA reported 1,857,884 vehicles sold, up 29.1%. APV sales for the year reached 450,122, climbing 113.7%.
Toyota launched Manufacturing Month with a video tour of eight U.S. facilities, showcasing the Toyota Production System. The video highlights the company's commitment to advanced manufacturing and aims to inspire students in STEM fields. Senior executives emphasized the skilled workforce involved in vehicle assembly and parts manufacturing. The premiere occurred on October 1, 2021, coinciding with Manufacturing Day, and was streamed on Toyota's social media channels. The company has a significant presence in the U.S., employing over 36,000 people and producing over 30 million vehicles across its plants.
On Sept. 30, 2021, Mazda Toyota Manufacturing (MTM) commenced production of the all-new 2022 Corolla Cross at its Huntsville, Alabama facility, the sole North American site for this model. With an investment totaling $2.311 billion, MTM plans to hire over 1,700 additional employees to reach a workforce of 4,000. The plant has a production capacity of 300,000 vehicles annually. The Corolla line is renowned for its dependability and efficiency, with the new model expected in dealerships by October.
Toyota unveiled the new Tundra TRD Pro for the 2022 NASCAR Camping World Truck Series on September 24, 2021, at Las Vegas Motor Speedway. This marks the first time Toyota will campaign the Tundra TRD Pro, debuting at Daytona International Speedway on February 18, 2022. The new truck reflects Toyota's commitment to racing vehicles that resemble production models. Toyota has achieved significant success in NASCAR, including 200 victories and a strong performance this season. The launch aligns with the introduction of the next generation Tundra models in dealerships.
Vail Resorts and Toyota have formed a multi-year strategic partnership affecting 33 mountain resorts in the U.S. This collaboration aims to enhance guest experiences through various initiatives, including Toyota vehicles for resort operations and new terrain features. Guests can expect innovative activations like the Toyota Banked Slalom course and complimentary valet services. Both companies emphasize safety, sustainability, and community impact, committing to carbon neutrality and contributing to local communities through Vail's EpicPromise platform, which donated $18.3 million during the 2019/20 season.
Clearway Energy Group has signed a virtual power purchase agreement (VPPA) with Toyota Motor North America (TM) to support its 100 MW Wildflower Solar project in Mississippi. Toyota will purchase 80 MW of renewable electricity, replacing high-emission sources in its operations, and aims for net-zero goals. The project is set to begin operations in 2023 and is expected to generate power for approximately 16,500 homes annually. This agreement follows a previous contract for the Black Rock wind farm in West Virginia, enhancing Toyota's renewable energy initiatives.
The 2022 Toyota Tundra is a reengineered full-size pickup truck, emphasizing performance, capability, and advanced technology. It features a new boxed steel ladder frame, multi-link rear suspension, and two engine configurations: a twin-turbo V6 producing 389 horsepower and the hybrid i-FORCE MAX, generating 437 horsepower. Maximum towing capacity is 12,000 pounds, with payload capacity at 1,940 pounds. Key interior upgrades include a panoramic roof, advanced infotainment, and safety features such as Toyota Safety Sense 2.5, standard across all models. Sales begin late 2021, with pricing to be announced.