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☆ Japan approves additional $3.9 billion in subsidies for semiconductor firm Rapidus to meet chip goals
▼ + stars: | 2024-04-02 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Japan said Tuesday it has approved up to 590 billion yen ($3.89 billion) in additional subsidies for chipmaker Rapidus Corporation, as the country plays catch up with other nations on semiconductor manufacturing. Rapidus Corporation was founded in 2022 by the Japanese government and eight domestic companies to develop and manufacture advanced semiconductors. Toyota Motor Corporation, Sony Group are among the companies that have invested billions of yen in Rapidus. Rapidus has received 330 billion yen from the Japanese government between 2022 and 2023 to mass produce 2-nanometer chips in Chitose, Hokkaido, from 2027. TSMC and Samsung currently produce 3-nanometer chips, while Rapidus is currently constructing an advanced semiconductor plant in Chitose.

Persons: Rapidus Organizations: chipmaker Rapidus Corporation, Japan's Ministry, Economy, Trade, Industry, Rapidus Corporation, Toyota Motor Corporation, Sony Group, Taiwan Semiconductor Manufacturing Company, South, Samsung Electronics, Samsung, IBM Locations: Japan, Rapidus, Chitose , Hokkaido, Chitose .

☆ Toyota September production jumps on stronger Japan output
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Attendees listen as President, CEO and Member of the Board of Directors at Toyota Motor Corporation Koji Sato holds a press briefing during a press day of the Japan Mobility Show 2023 at Tokyo Big Sight in Tokyo, Japan October 25, 2023. REUTERS/Issei Kato Acquire Licensing RightsTOKYO, Oct 30 (Reuters) - Toyota Motor (7203.T) said on Monday that worldwide production rose 1.5% in September from the same period a year earlier to 900,919 vehicles, boosted by stronger demand in Japan, the United States and in Europe. The world's biggest automaker by sales reported an 11.6% jump in global sales in September to 921,308 vehicles. Domestic sales surged 20.5% in September, while those in the United States rose 14% and sales in Europe were up 18.1%. In China, the world's biggest auto market, Toyota reported a nearly 7% decline in production even as it reported slightly higher year-on-year sales.

Persons: Toyota Motor Corporation Koji Sato, Issei Kato, Daniel Leussink, Jamie Freed Organizations: Toyota Motor Corporation, Japan, REUTERS, Rights, Toyota, Lexus, Thomson Locations: Tokyo, Japan, United States, Europe, Thailand, Indonesia, Vietnam, China

Toyota Motor Corporation's cars are seen at a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021. The Japan Mobility Show, which opens on Thursday, comes at a critical moment for the domestic industry. Toyota (7203.T), the world's top-selling automaker, this year announced a strategic pivot to battery EVs, including plans to commercialise advanced batteries and adopt die-casting technology pioneered by Tesla (TSLA.O). Toyota's shift has helped silence criticism that it was too slow to embrace battery EVs. In contrast to the darkening outlook in Japan, data from the ASEAN Automotive Federation shows that the auto market in Southeast Asia has been growing.

Persons: Kim Kyung, Koji Endo, Daniel Leussink, David Dolan, Jamie Freed Organizations: Toyota, REUTERS, Companies, Japan, Japan Mobility, Tesla, Subaru, Mazda, Mitsubishi Motors, BYD, HK, BMW, Honda, SBI Securities, Nissan, Mitsubishi, Japan Automobile Manufacturers Association, ASEAN Automotive Federation, EV upstarts, Thomson Locations: Tokyo, Japan, TOKYO, China, Southeast Asia, Thailand

☆ These are the 7 most loved brands in America—Apple and Amazon just missed the cut
▼ + stars: | 2023-05-31 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

They then asked respondents to rank those brands across nine reputation-gauging categories. 1 among all listed companies in the "trust," "culture" and "growth" categories. John Deere rounded out the top three, ranking second among all listed companies in the "products and service" and "culture" categories. Tech giants Amazon and Apple barely missed the cut, respectively ranking eighth and 10th — but both still obtained an "excellent" overall score, the highest tier possible on the report. Apple rose 11 spots, most significantly improving in the "culture" and "trust" categories.

Persons: Joe's, Axios Harris, pollsters, Yvon Chouinard, Richard Galanti, John Deere, Tim Cook, Cook, Kelly Evans Organizations: Costco, Patagonia Costco, Deere, Toyota Motor Corporation Samsung Quality, Patagonia Purpose Trust, Holdfast, Tech, Amazon, Apple, CNBC Locations: U.S, Patagonia

☆ Toyota names Lexus chief Koji Sato CEO as Akio Toyoda takes chairman role
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/3] Toyota Motor Corporation President Akio Toyoda and Toyota's GAZOO Racing Company President Koji Sato attend an event for Toyota GAZOO Racing and LEXUS at Tokyo Auto Salon 2023 at Makuhari Messe in Chiba, east of Tokyo, Japan January 13, 2023. REUTERS/Kim Kyung-HoonCompanies Toyota Motor Corp FollowLexus FollowTOKYO, Jan 26 (Reuters) - Toyota Motor Corp (7203.T) said on Thursday that Akio Toyoda will step down as president and chief executive to become chairman from April 1, and hand over the helm of Japan's biggest automaker to the company's top branding officer. Koji Sato, a 53-year-old who is also president of Toyota's luxury brand Lexus, will become the new CEO, the company said. He has held positions as the president of Lexus International and Gazoo Racing Company, Toyota’s motorsport brand, since 2020. He also took on an executive role at Toyota and became its chief branding officer in January 2021.

☆ Toyota CEO and President Akio Toyoda to step down
▼ + stars: | 2023-01-26 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

Toyota Motor Corporation's President and Chief Executive Akio Toyoda will step down from his post on April 1, to be replaced by current Chief Branding Officer Koji Sato, the Japanese automaker said Thursday. Toyoda will become the new chairman of the board, while the current Chairman Takeshi Uchiyamada will continue as a member of the board. Toyoda, 66, is the grandson of the carmaker's founder and has served as chief executive since June 2009. Chairman Uchiyamada has long supported me in all imaginable ways," Toyoda said in a webcast. Tokyo-listed shares of Toyota ended the session 0.63% lower Thursday ahead of the announcement.

☆ Back to the future: Toyota sets sights on old-car upgrades in zero-emissions drive
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

[1/5] Toyota Motor Corporation President Akio Toyoda and Toyota's GAZOO Racing Company President Koji Sato attend an event for Toyota GAZOO Racing and LEXUS at Tokyo Auto Salon 2023 at Makuhari Messe in Chiba, east of Tokyo, Japan January 13, 2023. REUTERS/Kim Kyung-HoonCHIBA, Japan, Jan 13 (Reuters) - In an eye-catching bid to show that cars can be clean while appealing to old-school petrolheads, Toyota Motor (7203.T) on Friday showcased zero-emission versions of its 1980s sports range, which still boasts a strong global fan base. Toyota President Akio Toyoda said remodelling existing cars needed to be explored as an option to achieve a goal of zero carbon emissions by 2050. In Japan, only one in about 20 cars on the road are new, and older ones are mainly powered at least partly by gasoline. "It's important to leave a choice for cars that are already loved or owned by someone," Toyoda, a self-confessed car-lover and race-car driver, said at the event.

☆ The world's biggest automaker said it will make fewer cars than expected this year due to the global semiconductor shortage
▼ + stars: | 2022-10-21 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

Toyota said it will make fewer cars than the 9.7 million it had expected to make this year. Toyota previously said it expected to make 9.7 million cars during the 2023 financial year, however as a result of the plan it now expected output to be lower. The company did not say how far short it expects production to be. In late September, the company said that similar parts shortages would shave 50,000 vehicles from its schedule in October. Toyota — which produces globally recognizable models like the Prius — sold 10.5 million vehicles in 2021, 1.6 million ahead of next-placed Volkswagen, per Reuters.

☆ Volkswagen focuses on regions to reduce supply chain vulnerability
▼ + stars: | 2022-04-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File PhotoBERLIN, April 19 (Reuters) - Volkswagen (VOWG_p.DE) said on Tuesday that a new growth plan would aim to reduce its vulnerability to the effects of global conflicts, such as supply chain disruption and rising prices, by divesting more power to its regions and brands. "The latest geopolitical changes and increased block-building have been exposing our global vulnerability, particularly with regards to the U.S.," Volkswagen Chief Executive Herbert Diess said in a LinkedIn post. read moreVolkswagen warned last week that it was feeling the impact of rising prices and supply chain bottlenecks, with deliveries in March down 37.3% from last year. read moreMercedes-Benz (MBGn.DE) Chief Technology Officer Markus Schaefer said last week that the German carmaker was also tightening its supply chains in light of global bottlenecks. Diess first announced a reshuffling of responsibilities at Volkswagen last December, after weeks of clashes between the CEO and labour unions over his leadership.

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