Toyota Motor Stock Price, News & Analysis

Joby Aviation (NYSE:JOBY) has entered a long-term agreement with Toyota Motor Corporation (NYSE:TM) for the supply of critical powertrain and actuation components necessary for its all-electric aircraft. This partnership builds on the existing collaboration, with Toyota as Joby's largest external investor, contributing approximately $400 million to the company. The agreement aims to enhance Joby's production capabilities, leveraging Toyota's expertise in high-volume manufacturing while aiming for the mass production of eVTOL aircraft. Joby is also developing an air taxi service in Japan, working with Toyota's subsidiary Aero Asahi and has applied for FAA certification, indicating potential expansion in urban air mobility.

Summary not available.

Toyota has received a Zero Emission Powertrain (ZEP) Executive Order from the California Air Resources Board (CARB) for its new heavy-duty fuel cell electric powertrain kit. This certification allows manufacturers of heavy-duty trucks to qualify for incentives aimed at promoting zero-emission vehicles. Toyota plans to begin assembling more efficient fuel cell modules for hydrogen-powered trucks at its Kentucky plant later this year. The certified powertrain kit includes essential components like hydrogen fuel storage tanks and fuel cell stacks, representing a substantial shift from traditional diesel powertrains. Toyota's commitment to hydrogen technology spans nearly 30 years, with advancements leading to this significant regulatory achievement, highlighting its role in reducing heavy-duty transport emissions.

Summary not available.

Toyota has unveiled the 2024 Tacoma Trailhunter, designed for adventure seekers, enhancing its off-road and overlanding capabilities. The new model promises purpose-built engineering and robust components, aiming to build on Toyota's established credibility in the off-road segment. The release highlights Toyota's commitment to sustainable mobility, emphasizing its extensive manufacturing presence in the U.S., where it employs over 39,000 workers and operates nine manufacturing plants. By 2025, Toyota will launch a tenth plant in North Carolina, focusing on automotive batteries for electrified vehicles, further expanding its electric vehicle options, which currently include 22 electrified models.

On April 6, 2023, Toyota announced the launch of the 2023 Corolla Cross Hybrid, enhancing its SUV lineup with improved performance and efficiency. The vehicle boasts a Fifth Generation Toyota Hybrid System, producing 196 horsepower and an EPA-estimated 42 MPG. The Corolla Cross Hybrid will be available in three sport grades: S, SE, and XSE, with a starting MSRP of $27,970. Key features include exclusive all-wheel drive, a spacious interior, and advanced safety technologies such as Toyota Safety Sense 3.0. The hybrid aims to support Toyota's carbon neutrality efforts through a wide range of electrified vehicles. The Corolla Cross Hybrid will hit dealerships in June 2023 and be assembled in the U.S. at a new manufacturing plant in Huntsville, Alabama.

Toyota unveils the all-new 2023 Prius and Prius Prime, supported by the "This is Prius Now" marketing campaign. The redesigned models feature sporty styling, advanced performance, and cutting-edge technology aimed at appealing to a broader audience. The Prius LE starts at $27,450, while the Prius Prime SE is priced from $32,350. Both models showcase significant improvements: the Prius boasts up to 57 MPG and 196hp, while the Prius Prime offers an estimated 44 miles of all-electric range and 52 MPG. Notable for its holistic marketing approach, the campaign includes diverse media placements, focusing on the vehicle's performance and aesthetic. Toyota strives for carbon neutrality through its electrified vehicle portfolio, committing to sustainable mobility for all customers.

The 2023 Prius Prime features a manufacturer-estimated 44-mile all-electric range, a 76% increase over its predecessor, and boasts 52 MPG combined in hybrid mode. The vehicle's powertrain includes a 150-hp engine and 220-system-net-horsepower, enhancing acceleration by 35% with a 0-60 time of 6.6 seconds. Equipped with advanced technologies like Traffic Jam Assist and a 12.3-inch touchscreen, the Prius Prime is designed for comfort and efficiency. Prices start at $32,350 for the SE model, with limited availability expected in May 2023.

Toyota, Huntsville Utilities, and Toyota Tsusho America announced a $49 million solar project in Huntsville, Alabama, aimed at generating 70% of Toyota Motor Manufacturing, Alabama's power from solar energy. The 30-megawatt solar facility, located near the Toyota engine plant, will produce 62,000 megawatt hours annually, cutting CO₂ emissions by approximately 22,000 metric tons. Set to begin construction this spring with operations starting in summer 2024, this initiative aligns with Toyota's goal of carbon neutrality by 2035. The collaboration marks a significant advancement in clean energy production for the region.