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Toyota boss calls for transformation as profit plunges 74 percent

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The president of automotive giant Toyota has called for the transformation of company amid a 74 percent decrease in profit, mostly as a result of the coronavirus pandemic.

Toyota this week has reported a profit of approximately $1.5 billion for the most recent quarter, which is down from more than $6 billion in the same quarter the previous year.

Japanese news outlet Asahi Shimbun reports that Toyota ’s sales went in “all markets”, with the company warning that huge uncertainties remain over the pandemic. [Read more…] about Toyota boss calls for transformation as profit plunges 74 percent

Suzuki and Toyota to collaborate on advanced driver systems and autonomous vehicle technologies

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Environment, safety, and information technology fields to also feature prominently in the new business partnership

Suzuki and Toyota have agreed to collaborate on advanced driver systems and autonomous vehicle technologies, although the details were not discussed. 

The companies say they have started exploring ideas that are directed towards a business partnership.

In a statement, Toyota and Suzuki say they recognise the environment surrounding the automotive industry has been changing “drastically and rapidly in an unprecedented fashion”.  [Read more…] about Suzuki and Toyota to collaborate on advanced driver systems and autonomous vehicle technologies

Toyota boss says autonomous technology is a paradigm shift – like going from building looms to constructing cars

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Toyota president Akio Toyoda has drawn a parallel between the changes happening in the company now to what happened when Toyota first came into existence.

Toyoda was speaking at a press conference to present the automaker’s financial results. He acknowledged the “many lessons that we learned” through the company’s partnerships with Subaru, BMW and Mazda.

The partnerships were part of the reason for Toyota adopting a new organisational structure. It was also a factor in the company’s decision to establish the Toyota Research Laboratory.  [Read more…] about Toyota boss says autonomous technology is a paradigm shift – like going from building looms to constructing cars