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☆ EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers
▼ + stars: | 2024-03-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +11 min

Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off. U.S. EV sales were a record 1.2 million units last year, representing 7.6% of the overall national market, Cox Automotive estimates. "Moving on to less tech-savvy buyers will slow the EV market share growth over the next few years." Automakers wanted to emulate Tesla's success, with some promising to exclusively offer EVs in the not-too-distant future. "Toyota is almost completely absent from the [battery electric vehicle] market yet will gain more U.S. market share than any other car company this year.

Persons: hasn't, Andrew Merry, Aston Martin, Tesla, Elon Musk, Marin Gjaja, Ford, Pablo Di Si, Sam Fiorani, Romeo, Bentley, Mary Barra, there's, Cadillac, John Roth, We've, Gjaja, Jim Farley, Rebecca Cook, Oliver Blume, Akio Toyoda, Morgan Stanley, Adam Jonas, It's, Biden, Cox, Michelle Krebs, EVs, Trisha Jung Organizations: DETROIT, EV, Ford Motor, General Motors, Mercedes, Benz, Volkswagen, Jaguar, Rover, CNBC, GM, Hyundai Motor, Kia, Toyota Motor, VW, U.S, Cox Automotive, AutoForecast Solutions, Volvo, Buick, Cadillac, Honda, Ford Motor Co, Ford, Amperex Technology, Toyota, Cox, Tesla, Nissan, Nissan U.S, Environmental Protection Agency, Alliance for Automotive Innovation, American Automotive, Detroit automakers Locations: EVs, Europe, U.S, North America, Warren , Michigan, Detroit, Marshall , Michigan, Romulus , Michigan

Those more concerned with the climate crisis are asking a bigger question: what does this all mean for the planet? Gas-powered cars, hybrids and EVs all emit roughly the same amount of pollution to manufacture, until you get to producing the battery. Fully electric cars use large batteries made of materials that require heavy mining. And that would still mean less climate pollution on the road overall. And fully electric cars won’t be truly “green” until the energy that charges them comes from renewable sources, like wind and solar.

Persons: Akio Toyoda, EVs, Joe Biden’s, Toyota’s, Daniel Sperling, —, ”, Sam Abuelsamid, Abuelsamid, InfluenceMap, Biden, Kelley, Albert Gore, Gore, I’m, “, ” Monica Nagashima, Lia, Kena, Stephen Ciccone, ” Ciccone, BEV, ” UC’s Sperling Organizations: CNN, Toyota, Auto, US, Toyota Prius Prime, Toyota Toyota, Institute of Transportation Studies, University of California, Ford, EPA, Gas, American Council for, Prius, EV, InfluenceMap, United, Lexus, Cox Automotive, Zero Emission Transportation Association, Getty, Toyota Motor North America, ” Toyota Locations: California, West Virginia, Canada, Australia, United States, EVs, InfluenceMap’s, Japan, Rockland, Blauvelt , New York

☆ The auto industry owes Toyota an apology on hybrids
▼ + stars: | 2024-02-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Toyota, the originator of the hybrid car craze in the early 2000s, is poised to reclaim its crown as the king of green cars. This, paired with the success of Tesla and overall investor enthusiasm for EV technology, left Toyota looking like a laggard. AdvertisementDespite years of criticism, it appears that Toyota might have had the right idea after all. Shoppers in the market for a hybrid are also much more likely to pony up more cash for these cars. Toyota has spent the last several years releasing more hybrids and plug-in hybrids, while refusing to give up on the nascent hydrogen fuel cell technology that many of its competitors have largely abandoned.

Persons: Elon Musk's Tesla, Jeremy Korst, Korst, Akio Toyoda, Toyoda, Tesla, Toyota's, Mary Barra Organizations: Toyota, Business, EV, Elon, Ford, EV technology, Cox Automotive, Cox, Shoppers, Companies, GM Locations: Detroit, North America

☆ Toyota says president and chairman of its Daihatsu unit will resign in wake of safety-test scandal
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: +1 min

A Daihatsu Motor Co. Boon CILQ vehicle, right, and a Toyota Motor Corp. Passo vehicle are displayed during a press conference in Tokyo, Japan, on Monday, April 11, 2016. Toyota Motor said on Tuesday both the president and chairman of Daihatsu Motor will step down almost a year after the small-car unit said it had rigged collision safety-tests. The scandals at the three companies triggered a rare apology of Toyota Chairman Akio Toyoda last month. Daihatsu's chairman, Sunao Matsubayashi, will also step down and will not be replaced, Toyota added.

Persons: Boon, Akio Toyoda, Masahiro Inoue, Soichiro, Sunao Matsubayashi Organizations: Daihatsu, Co, Toyota Motor Corp, Toyota, Hino Motors, Toyota Industries Locations: Tokyo, Japan, America, Caribbean

TOKYO (AP) — Japanese transport officials raided a Toyota-affiliated plant Tuesday after the company admitted to cheating on engine testing, as Toyota Motor Corp. reported it sold over 11 million vehicles in 2023 to retain its status as the world’s top car manufacturer. In April, a whistleblower exposed that Daihatsu Motor Corp., which makes small cars and is 100% owned by Toyota, had been cheating on its testing for decades. In 2022, Hino Motors, a truck maker that’s also part of the Toyota group, said it had systematically falsified emissions data dating back as far as 2003. But production has been halted on some of the models, including the 10 models affected by the latest cheating. Sato has acknowledged Toyota group companies need better communication and education about the importance of complying with rules.

Persons: Akio Toyoda, ” Toyoda, Toyoda, Sakichi Toyoda, Kiichiro Toyoda, Akio’s, Koji Sato, that’s, Sato, Daisuke Uchida, ” Uchida, “, ” ___ Yuri Kageyama Organizations: TOKYO, Toyota, Toyota Motor Corp, Toyota Industries Corp, Lexus, Volkswagen AG, Reporters, Daihatsu Motor Corp, Hino Motors, Nikkei, Toyota Industries, Cruiser, General Motors Co, Pontiac, Keio University Locations: Hekinan, Aichi Prefecture, Japan, Nagoya, Tokyo, Europe, East, Africa, Asia, North America, United States, California

TOKYO (AP) — Toyota chief Koji Sato apologized Monday to customers, suppliers and dealers for flawed testing at a group company, following a series of similar problems in recent years. The apology came a day before Chairman Akio Toyoda is to announce a “global vision” for the Toyota Motor Corp. group. The latest woes at Japan’s top automaker involve testing required for Japanese government approval at Toyota Industries Corp., which makes diesel engines. In 2022, Hino Motors, a truck maker that’s also part of the Toyota group, said it had systematically falsified emissions data dating back as far as 2003. They include the Land Cruiser and Hilux sport utility vehicles, according to Toyota.

Persons: —, Koji Sato, Akio Toyoda, ” Sato, ”, that’s, Sato, “, Yuri Kageyama Organizations: TOKYO, — Toyota, Toyota Motor Corp, Toyota Industries Corp, Toyota, “, Daihatsu Motor Corp, Hino Motors, Cruiser Locations: Tokyo, Japan, Europe, East, Africa, Asia, North America

☆ Elon Musk wants to sell more Teslas in Japan. Here's why that could be tricky.
▼ + stars: | 2024-01-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Read previewBack in 2010, Elon Musk predicted that Japan would become Tesla's largest market outside of the US. "There are some geographies where our market share is remarkably low, like Japan," Musk said in a fourth-quarter earnings call earlier this week. Akio Toyoda has been skeptical of the benefits of EV cars. Tomohiro Ohsumi/Getty ImagesThat hesitancy has also held back the development of charging infrastructure — there are only about 30,000 EV charging connectors in the whole country — and kept price tags higher. But Japanese carmakers do have some plans to boost their EV efforts.

Persons: —, Elon Musk, Musk, Tesla, Suzuki, Nissan Sakura, Tatsuo Yoshida, Akio Toyoda, Ohsumi Organizations: Service, Business, BMW, Toyota, Honda, Nissan, Bloomberg, Bloomberg Intelligence, New York Times Locations: Japan, Europe

TOKYO (AP) — A Japanese automaker that cheated on safety tests for decades said Monday it doesn't expect to resume shipping cars any time soon. The Japanese government ordered a subsidiary of Toyota to halt production of its entire lineup after reports of faked safety test results emerged last year. The Daihatsu Motor Co. skipped mandatory safety tests by copying data from testing on one side of cars to the other, and used timers to ensure airbags went off in tests, a review found. An investigation including third-party experts found 174 cases of faked tests affecting dozens of models, including cars sold under the Toyota Motor Corp. nameplate. The review found that cheating went back 30 years.

Persons: —, Keita Ide, Soichiro Okudaira, truckmaker Hino, Akio Toyoda, Toyota’s, ” ___ Yuri Kageyama Organizations: TOKYO, Toyota, Daihatsu, Co, Toyota Motor Corp, Toyota Industries Corp

☆ Why automakers are turning to hybrids in the middle of the industry's EV transition
▼ + stars: | 2023-12-08 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

Sales of traditional hybrid electric vehicles, or HEVs, such as the Toyota Prius, are outpacing those of all-electric vehicles in 2023, according to Edmunds. Sales of plug-in hybrid electric vehicles, or PHEVs, accounted for only 1% of U.S. sales through November. In comparison, Ford's EV sales are up 16.2% to roughly 62,500 units, accounting for 3.5% of its total sales. Battery breakdown Both hybrids and plug-in hybrids have a traditional engine combined with EV technologies. The world's largest automaker is considered the pioneer of traditional hybrids, with the Prius.

Persons: Scott Mlyn, Biden, HEVs, EVs, There's, Jessica Caldwell, Edmunds, Morgan Stanley, Eric Watson, Jim Farley's, Jeep Wrangler, Motors, Mary Barra, It's, Mark Reuss, Stephanie Brinley, Akio Toyoda Organizations: CNBC DETROIT —, EV, Toyota Prius, Toyota, Honda Motor, Hyundai, Kia, U.S, Representatives, Kia America, CNBC, Detroit automakers, Detroit, Ford Motor, Ford, Chrysler, Jeep, Cherokee, GM, Chevrolet, Automotive Press Association, National, Traffic Safety Administration, American Automotive Policy Council, Reuters, NHTSA, P Global Mobility . Industry, EVs, Wall Street Locations: Edmunds, U.S, That's, Kia America's, China, Detroit, EVs

☆ America's best-selling car will soon be hybrid-only
▼ + stars: | 2023-11-16 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

Toyota has said that the 2025 Camry will be available exclusively as a hybrid. The family sedan has been the best-selling car in the US for the past two decades. It has been available in gasoline or hybrid versions since 2007, but from 2024 will be hybrid-only. AdvertisementThe $26,000 Camry has been the best-selling car that is not a pickup truck or an SUV in the US for the past two decades. The decision to make the upcoming version exclusively hybrid is a bold one from Toyota, which has so far chosen to prioritize hybrid cars over fully electric vehicles.

Persons: —, Akio Toyoda, Tesla Organizations: Toyota, Service, Toyota Camry, Camry, Business

☆ SoftBank’s optimistic talk falls on deaf ears
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

SoftBank Group Corp Chairman and CEO Masayoshi Son speaks during their joint news conference with Toyota Motor Corp President Akio Toyoda (not pictured) in Tokyo, Japan October 4, 2018. REUTERS/Issei Kato Acquire Licensing RightsSINGAPORE, Nov 10 (Reuters Breakingviews) - All credit to SoftBank’s (9984.T) finance chief for trying to accentuate the positive. The weakening currency lopped off 183 billion yen. Taking such a big loss when analysts, per S&P Capital IQ, expected a $1.2 billion profit, though, was. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Masayoshi Son, Akio Toyoda, Issei Kato, Yoshimitsu Goto, SoftBank, Antony Currie, Thomas Shum Organizations: SoftBank Group, Toyota Motor Corp, REUTERS, Rights, Reuters, X, SEC, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Arm’s

☆ Americans are so anxious about going electric that they're willing to pay up for hybrids
▼ + stars: | 2023-10-28 | by ( Nora Naughton | Alexa St. John | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementWhile car companies try desperately to gin up demand for their latest electric models, consumers are begging for a compromise: hybrids. In the auto industry, the same logic applies to hybrids, which can provide a more convenient bridge to full EV adoption. Hybrid revolutionThis need for hybrids isn't new. Ford said this week it would postpone $12 billion in new EV investment as the company assesses demand going forward.

Persons: isn't, —, –, they're, Chris Harto, Harto, Akio Toyoda, Cameron Johnson, Ford, Martin French Organizations: Industry, Service, Consumer, EVs, Auto, Consumer Reports, Toyota, Dealers, Magic City Auto Group, Honda Locations: Edmunds, Virginia

☆ The World’s Biggest Carmaker Made a Huge Bet on Tech. Things Went Wrong Fast.
▼ + stars: | 2023-10-27 | by ( River Davis | Photographs Ko Sasaki For The Wall Street Journal | ) www.wsj.com time to read: 1 min

TOKYO— Toyota sells more cars each year than any other company, and it had similarly big dreams when it created its own in-house technology startup in 2021. It picked an American tech whiz to run it and envisioned building software for its cars that would become a standard for the whole industry. So great were the startup’s ambitions that one of its projects was building an entire new city in the foothills of Mount Fuji where it could test self-driving cars, robots and hydrogen for power production. Then-Chief Executive Akio Toyoda said the new unit would help Toyota navigate a “once-in-a-century period of profound change” in which cars become electric, internet-connected, autonomous and heavily reliant on software.

Persons: Akio Toyoda Organizations: Toyota, Mount Fuji Locations: TOKYO, American, Mount

☆ Toyota Chairman Says People Are Finally Seeing the Reality About EVs
▼ + stars: | 2023-10-25 | by ( River Davis | ) www.wsj.com time to read: 1 min

Toyota Motor’s FT-Se concept car at the Japan Mobility Show 2023 in Tokyo. Photo: franck robichon/ShutterstockTOKYO— Toyota Motor Chairman Akio Toyoda , when asked about electric-vehicle challenges including a recent lull in U.S. demand, said the industry was coming to recognize that there isn’t a single answer to reducing carbon emissions. “People are finally seeing reality,” Toyoda said Wednesday, speaking in his capacity as the head of the Japan Automobile Manufacturers Association.

Persons: franck robichon, Akio Toyoda, ” Toyoda Organizations: Toyota Motor’s, Japan, Toyota, Japan Automobile Manufacturers Association Locations: Tokyo, TOKYO

☆ What happened to shut down Toyota's production in Japan?
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +4 min

WHAT HAPPENED TO SHUT DOWN TOYOTA'S PRODUCTION IN JAPAN? Toyota's production has been recovering this year, so the outage could be potentially more costly than the 2022 shutdown. Toyota's production in Japan - about a third of its global output - averaged about 13,500 vehicles a day in the first half of the year, Reuters calculations showed. WHAT IS TOYOTA'S PRODUCTION AND SUPPLIER MANAGEMENT SYSTEM? Toyota's system of lean production and just-in-time parts delivery has been adopted across the auto industry and widely studied.

Persons: Taichi Ono, Wiggly, Koji Sato, Akio Toyoda, Tesla, Daniel Leussink, Satoshi Sugiyama, Kevin Krolicki, Christopher Cushing Organizations: Toyota, Kyodo, REUTERS Acquire, Kojima Industries, Lexus, Daihatsu, Hino, TOYOTA, ITS, Thomson Locations: Toyota, Aichi Prefecture, Japan, JAPAN, United States

☆ Toyota Motor Chairman Akio Toyoda Isn’t Afraid to Show Emotion
▼ + stars: | 2023-06-23 | by ( ) www.wsj.com time to read: 1 min

AI Apps to Try for Work and LeisureThere are so many new AI-powered programs out there. Deciding which ones to try can be overwhelming. But worry not! WSJ personal-tech reporting assistant Cordilia James put together a list to get you started. She joins host Julie Chang for a quick rundown of the best AI apps.

Persons: Cordilia James, Julie Chang

☆ Toyota shareholders make 15% the new win-win
▼ + stars: | 2023-06-16 | by ( Antony Currie | ) www.reuters.com time to read: +3 min

Both Glass Lewis and ISS reckon there aren’t enough properly independent directors on the board, even though Toyota complies with the requirements laid down by the Tokyo Stock Exchange. Yet ISS held back from advising shareholders vote against them because it would risk “increasing management dominance of the board”. Toyota is a laggard on both and is now under pressure to get powerful investors back onside. CONTEXT NEWSMore than 15% of voting shareholders were against reappointing Chairman Akio Toyoda to Toyota Motor’s board at its annual meeting on June 14, the Japanese carmaker said on June 15. About 15% of shareholders who voted supported a resolution asking the company to issue an annual review of its climate lobbying activities.

Persons: Akio Toyoda, Glass Lewis, Glass Lewis plumped, Toyoda, Masahiko Oshima, carmaker, Pete Sweeney, Thomas Shum Organizations: MELBOURNE, Reuters, Toyota, ISS, Tokyo Stock Exchange, Sumitomo Mitsui Financial, Nikkei, California Public, New York, New York City Comptroller, Twitter, Thomson Locations: New York City

☆ Toyota defies skeptics as stock seals best week since 2009
▼ + stars: | 2023-06-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Toyota Motor stock sealed its best week since 2009 on Friday, as the automaker laid out a robust plan for future all-electric vehicles and company scion Akio Toyoda became leader of the Japanese company's board. Shares of Toyota on the New York Stock Exchange closed Friday at $164.35 per share, down 2.3% for the day but still up 10.6% on the week. That 5-day gain is the stock's best week since April 2009 when shares increased 14.5%. It's only the third double-digit weekly gain in more than two decades for the relatively well-performing but mundane stock. Shares of the company are up 20% so far in 2023.

Persons: Akio Toyoda, Toyoda, Koji Sato Organizations: DETROIT, Toyota, New York Stock Exchange, Prius Prime Locations: EVs

☆ Some 85% of Toyota shareholders voted to re-elect Toyoda at AGM
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: 1 min

TOKYO, June 15 (Reuters) - Some 85% of Toyota Motor's (7203.T) shareholders voted to re-elect Chairman Akio Toyoda to the automaker's board of directors at its annual general meeting, the company said in a regulatory filing on Thursday. Support for Toyoda, the grandson of the company's founder, was at 96% in the previous year, when he was president and chief executive. Some 15% of shareholders also voted at Wednesday's meeting in favour of a resolution that would have compelled the automaker to make greater disclosure of its climate change lobbying activities. That was well short of the two-thirds majority required for the resolution to pass. Reporting by Daniel Leussink; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Akio Toyoda, Toyoda, Daniel Leussink, David Dolan Organizations: Toyota, Thomson Locations: TOKYO

☆ Toyota stock having best week since 2009 after annual meeting, new EV goals
▼ + stars: | 2023-06-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – Toyota Motor's stock is having its best week since 2009 following the company disclosing plans for its next-generation electric vehicles and shareholders voting in favor of its new leadership, including former CEO Akio Toyoda as chairman. If shares can retain their current momentum, it would be the stock's best week since April 2009 when they increased 14.5%. Ahead of its annual meeting Wednesday, Toyota outlined plans for a new generation of EVs to rival industry leaders Tesla and China-based BYD . The company said it plans to launch its next-generation EVs starting in 2026, including vehicles with highly touted "solid-state batteries" by 2027 or 2028. Solid-state batteries can be lighter, with greater energy density and provide more range at a lower cost than today's EVs with lithium-ion batteries.

Persons: Akio Toyoda, Tesla Organizations: DETROIT, Toyota, New York Stock Exchange Locations: China

☆ Toyota Shareholders Re-Elect Akio Toyoda to Board, Rejecting Activist Push
▼ + stars: | 2023-06-14 | by ( River Davis | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, akio, toyoda Organizations: toyota

☆ Toyota wins over shareholders at AGM after questions on strategy, governance
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 14 (Reuters) - Toyota (7203.T) shareholders backed the board and voted down the first resolution proposed in 18 years at an annual general meeting (AGM) on Wednesday, an endorsement of the automaker a day after it laid out an extensive electric vehicle strategy. MANUFACTURING CHANGEThe carmaker said it would radically redesign manufacturing, having vehicles drive along the production line instead of being carried by conveyor. GOVERNANCETwo huge U.S. public pension funds voted against the re-election of Chairman Akio Toyoda, with proxy advisor Glass Lewis saying re-election threatened board independence. Toyota said its board meets Tokyo Stock Exchange standards. CLIMATE LOBBYINGThree asset managers have urged Toyota to improve disclosure of climate change lobbying in a proposal backed by proxy advisor Institutional Shareholder Services.

Persons: Tesla, Akio Toyoda, Glass Lewis Organizations: Toyota, EV, Tokyo, Exchange, Services, Thomson Locations: TOKYO

[1/2] The Toyota logo is seen on the bonnet of a newly launched Camry Hybrid electric vehicle at a hotel in New Delhi, India, January 18, 2019. REUTERS/Anushree Fadnavis/File PhotoTOYOTA CITY, Japan, June 14 (Reuters) - Shareholders of Toyota (7203.T) voted down an unprecedented resolution on its automaker's climate lobbying and backed its board at an annual general meeting (AGM) on Wednesday, sending an endorsement of the Japanese automaker's strategy. Shareholders also voted in favour of all 10 members of the board. That vote, and particularly support for Chairman Akio Toyoda, has been in focus after some major U.S. pension funds said they would not vote for Toyoda, citing concerns about board independence. Toyota is taking a multi-pathway approach toward carbon neutrality that includes petrol-electric hybrids and hydrogen fuel cells, along with EVs.

Persons: Anushree, Akio Toyoda, Toyoda, Akio, Tadashi Imai, Daniel Leussink, David Dolan, Christopher Cushing Organizations: REUTERS, TOYOTA CITY, Toyota, Shareholders, Thomson Locations: New Delhi, India, Japan

☆ Toyota makes its case at AGM after investors question strategy, governance
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

The roadmap could help the world's top-selling automaker make its case to investors at the meeting, where it also faces a shareholder resolution over its climate lobbying as well as questions about governance. EV ROADMAPToyota aims to produce more efficient, faster-charging versions of current batteries to improve EV driving range and cost, and, within the decade, mass produce game-changing solid-state batteries after saying it had overcome a technical hurdle. MANUFACTURING CHANGEThe carmaker said it would radically redesign manufacturing, having vehicles drive along the production line instead of being carried by conveyor. GOVERNANCETwo huge U.S. public pension funds voted against the re-election of Chairman Akio Toyoda, with proxy advisor Glass Lewis saying re-election threatened board independence. CLIMATE LOBBYINGThree asset managers have urged Toyota to improve disclosure of climate change lobbying in a proposal backed by proxy advisor Institutional Shareholder Services.

Persons: Koji Sato, Tesla, Akio Toyoda, Glass Lewis Organizations: Toyota, EV, Tokyo, Exchange, Services, Thomson Locations: TOKYO

☆ Toyota shares hit 16-month high as shareholders endorse board, new EV strategy
▼ + stars: | 2023-06-14 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

People arrive to attend an annual shareholders' meeting for Toyota Motor in the city of Toyota, Aichi Prefecture on June 14, 2023. Toyota shares soared to a 16-month high Wednesday after shareholders of the world's largest car manufacturer voted to retain Akio Toyoda as its chairman in a broad endorsement of the company's governance and new electric vehicle strategy. Toyota shares closed up 6.3% at 2,310 Japanese yen ($16.48) per share in robust volumes — their highest close since Feb. 9, 2022. Their record closing high at 2,390 Japanese yen per share was recorded Jan. 9, 2022. On Wednesday, Toyota shares outperformed the 1.5% gain on the Nikkei and 1.3% rise for the Topix benchmarks in Tokyo.

Persons: Akio Toyoda, Koji Sato's Organizations: Toyota Motor, Toyota, Nikkei Locations: Aichi Prefecture, Toyota City, Tokyo

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