Jordan Carlton
Wed, September 20, 2023
Toyota is ramping up its transition from combustion engines to electric vehicles, according to new data from the company.
The global auto giant’s latest sales figures reveal the remarkable success of Toyota’s hybrid and EV models, Torque News reports.
In the first half of 2023, Toyota Motor North America sold a total of 270,476 EVs, including hybrids, which makes up 26% of the company’s total sales volume, according to Torque News. Models like the bZ4X, Corolla Cross, Mirai, Sequoia, and Tundra HEV all reported record first-half sales, Torque News reports.
June saw 51,535 EVs sold, making up 26.4% of monthly sales, reflecting a growing desire among consumers to support a cleaner future. The uptick in sales comes as people across the globe struggle to cope with stiflingly hot temperatures. This June was the hottest on record going back 174 years, according to the National Oceanic and Atmospheric Administration, per NPR. And this July saw the hottest three-week period on record, per CNN.
Consumers who purchase EVs are not merely investing in cars that are cheaper to run and maintain, they are also significantly cutting back on the amount of planet-overheating pollution they create.
Unlike standard gas-powered vehicles, EVs do not rely on combustion engines that release harmful gas while running. Research has shown that no matter the charging method or the means of battery production, even EVs with the dirtiest batteries are still cleaner than cars that burn gas.
Toyota recently announced plans for an EV with a 900-mile range after just 10 minutes of charging, an unprecedented technology that would address one of the most common hesitations of potential EV owners — range anxiety.
The future of the automobile industry is undoubtedly electric, and Toyota’s commitment to expanding its electrified vehicle options and early successes both indicate that this trend will continue to gain momentum.
Toyota issues a major threat to Tesla's EV supremacy
Toyota's stock surged more than 3% Tuesday morning.
THE STREET
SEP 19, 2023
The Toyota (TM) - Get Free Report Prius, one of the first hybrids to hit the market, was around before Tesla (TSLA) - Get Free Report even formed as a company. In the time since, the Japanese automaker has gone on to become the top-selling automaker in the world and Tesla has gone on to become the certified leader of the electric vehicle market.
But Toyota has lately been targeting the shift to electrification; in June, the company unveiled a technological roadmap to introduce high-performance electric vehicles and other technologies with the goal of increasing range, cutting costs and competing with Tesla.
Engineering whistleblower explains why safe Full Self-Driving can't ever happen
Read More
Last week, Toyota gave reporters a tour of one of its factories in central Japan, where the company showed off the way it is integrating old methods with new technology to amp up EV production and keep costs as low as possible.
The plant, according to Reuters, incorporating robotics and 3D modeling technology, has made use of 30-year-old part-processing equipment, which can now run at night and on weekends, boosting productivity.
The company has also begun to employ self-propelling production lines; its EVs, guided by sensors, move through assembly lines without the need (or expense) of conveyor equipment. Toyota has further moved to take advantage of Tesla's unique "gigacasting" method, which produces larger (and therefore, fewer) car parts. But Toyota has worked to innovate this process, developing die-casting molds that can be replaced in 20 minutes, rather than the 24 hours normally required.
More Electric Vehicles:
SEP 19, 2023
The Toyota (TM) - Get Free Report Prius, one of the first hybrids to hit the market, was around before Tesla (TSLA) - Get Free Report even formed as a company. In the time since, the Japanese automaker has gone on to become the top-selling automaker in the world and Tesla has gone on to become the certified leader of the electric vehicle market.
But Toyota has lately been targeting the shift to electrification; in June, the company unveiled a technological roadmap to introduce high-performance electric vehicles and other technologies with the goal of increasing range, cutting costs and competing with Tesla.
Engineering whistleblower explains why safe Full Self-Driving can't ever happen
Read More
Last week, Toyota gave reporters a tour of one of its factories in central Japan, where the company showed off the way it is integrating old methods with new technology to amp up EV production and keep costs as low as possible.
The plant, according to Reuters, incorporating robotics and 3D modeling technology, has made use of 30-year-old part-processing equipment, which can now run at night and on weekends, boosting productivity.
The company has also begun to employ self-propelling production lines; its EVs, guided by sensors, move through assembly lines without the need (or expense) of conveyor equipment. Toyota has further moved to take advantage of Tesla's unique "gigacasting" method, which produces larger (and therefore, fewer) car parts. But Toyota has worked to innovate this process, developing die-casting molds that can be replaced in 20 minutes, rather than the 24 hours normally required.
More Electric Vehicles:
Ford unveils new Tesla challenge aimed at electrifying corporate fleets
And not to be outdone by Tesla and its autonomous technology, this Toyota plant uses a robotic, self-driving transport to move newly completed cars across the factory's parking lot.
"The strength of Toyota's manufacturing lies in our ability to respond to changing times," Kazuaki Shingo, Toyota's chief product officer, told reporters on the tour.
This push into the competitive EV market comes amid ongoing strikes against the Detroit Three — General Motors (GM) - Get Free Report, Ford (F) - Get Free Report and Stellantis (STLA) - Get Free Report — which analysts think will result in Tesla widening its lead in EV production by a healthy margin. A prolonged strike, they say, could push the automakers' EV plans back, giving Tesla a wider lead.
And when a deal is finally made to bring people back to work, legacy automakers' EVs, already not profitable, will likely come in at prices that Tesla will easily be able to beat.
Toyota's stock jumped around 3% Tuesday morning.
No comments:
Post a Comment