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Toyota, Toyota Industries and Aisin will sell Denso shares worth a total of about 700 billion yen ($4.7 billion) at current market prices, the two sources said. In a statement, Denso said it was considering a share sale, a buyback and other capital measures, but that nothing had yet been decided. At $4.7 billion, it would be the second-biggest such share offering in Japan this year, after the more than $9 billion sale of shares in Japan Post Bank (7182.T) in March, according to LSEG data. Denso shares, which were down almost 4% before the news, extended losses after the Reuters report and fell as much as 6.8% on the day, closing 4.9% lower. Toyota shares finished little changed, as did the benchmark Nikkei 225 (.N225).

Persons: Denso, Miho Uranaka, Daniel Leussink, Maki Shiraki, Nobuhiro Kubo, David Dolan, Jamie Freed, Miral Fahmy, Louise Heavens Organizations: Companies, Toyota, Toyota Industries, Aisin, Japan Post Bank, Tokyo Stock Exchange, Buyers, KDDI Corp, Reuters, Nikkei, Thomson Locations: TOKYO, Denso, Japan

Toyota Motor's portion will represent almost half of the roughly 10%, with the total sale seen at about 700 billion yen ($4.7 billion) at current market prices, the two sources said. A Toyota spokesperson said it was not in a position to comment on Denso, adding the contents of the Reuters report of the share sale were not something it had announced itself. Buyers of the shares are expected to largely be domestic investors, and the price has yet to be determined, the sources said. Denso shares, which were down almost 4% before the news, extended losses after the Reuters report and fell as much as 6.8% on the day, closing 4.9% lower. Toyota shares finished little changed, as did the benchmark Nikkei 225 (.N225).

Persons: Miho Uranaka, Daniel Leussink, Maki Shiraki, Nobuhiro Kubo, David Dolan, Jamie Freed Organizations: Companies, Toyota, KDDI Corp, Tokyo Stock Exchange, Reuters, Nikkei, Thomson Locations: TOKYO, Denso

☆ 2023 was the auto industry's year of EV investment, but consumers still prefer hybrids
▼ + stars: | 2023-11-28 | by ( Brian Evans | ) www.cnbc.com time to read: +7 min

Hybrid vehicle market share has picked up pace in 2023 despite all the investment pouring into EVs. From October 2022 to October of this year, total vehicle market share for hybrids grew from 6.5% to 11.4%, according to data from Edmunds. Over the same time period, EV market share growth was more sluggish, expanding from 6% to 7.5%. Toyota 's 2024 Prius, often called the "gold standard" in hybrid vehicles, was named MotorTrend's car of the year. The uptick in hybrid sales won't likely spell doom and gloom for the EV market over the long-term.

Persons: Stephanie Valdez Streaty, Valdez Streaty, Edmunds, Goldman Sachs, Tesla, Mark Delaney, David Christ, Honda, Michelle Krebs, Sienna, Krebbs, Ford, Dan Levy, Levy, EVs, headwinds, BEV, Tom Narayan Organizations: Cox Automotive, Ford, General Motors, Wall, Toyota, ICE, EV, Toyota Motor's, Wall Street, Los Angeles Auto, FactSet, Tesla, Barclays, GM, Biden, U.S, BMO Capital Locations: Edmunds, U.S

☆ Aeva to supply self-driving sensors to NTT-backed May Mobility
▼ + stars: | 2023-11-08 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Sensor is seen on a vehicle at Aeva Inc, a Mountain View, California-based startup that makes lidar sensors to help self-driving vehicles see the road in an undated handout photo provided September 4, 2020. Courtesy of Aeva Inc/Handout via REUTERS/ File Photo Acquire Licensing RightsNov 8 (Reuters) - Aeva Technologies (AEVA.N) on Wednesday said it has inked a deal to supply May Mobility with a key sensor for its self-driving shuttles. Silicon Valley-based Aeva has developed what is known as a lidar sensor that helps self-driving vehicles gain a detailed, long-range view of the road. Under the deal, Aeva will supply multiple sensors for "thousands" of May Mobility vehicles through 2028, Aeva Chief Executive Officer Soroush Salehian told Reuters in an interview. He said May Mobility will need to rewrite some of its software to use the Aeva sensors but that they will eventually improve the long-range sensing of its shuttles, which are based on Toyota Sienna minivans.

Persons: Cruise, Soroush Salehian, Edwin Olson, Olson, Stephen Nellis, Mark Potter Organizations: Aeva Inc, REUTERS, Aeva Technologies, Mobility, Motors, Japan's Nippon, Telephone, NTT, Toyota, Aeva, Reuters, May Mobility, Toyota Sienna, San, Thomson Locations: , California, Silicon, Michigan, San Francisco

☆ Toyota says plant shutdown last week due to server malfunction
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

A Toyota logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. "The system was restored after the data was transferred to a server with a larger capacity," Toyota said. The issue occurred following regular maintenance work on the servers, the company said, adding that it would review its maintenance procedures. Two people with knowledge of the matter had told Reuters the malfunction occurred during an update of the automaker's parts ordering system. Toyota restarted operations at its assembly plants in its home market on Wednesday last week, a day after the malfunction occurred.

Persons: David, Dee, Delgado, Daniel Leussink, Edmund Klamann Organizations: New York, REUTERS, Rights, Toyota, Reuters, Thomson Locations: Manhattan , New York City, U.S, Japan

☆ Toyota's China joint venture dismisses about 1000 workers
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI/TOKYO, July 24 (Reuters) - Toyota Motor's (7203.T) joint venture (JV) in China said on Monday that it has terminated early the contracts of about 1,000 dispatch workers, in a sign of pressure on automakers from a price war in the world's largest auto market. Toyota's JV in China, Guangzhou Toyota Motor Co, said in a statement to Reuters that it had prematurely terminated contracts for about 1,000 workers with labour services companies in light of recent production levels. The GAC Toyota factory has an annual output capacity of 1 million vehicles and employs around 19,000 people, according to its website. The production of Mitsubishi's new Outlander model remained suspended, Kato added, describing the conditions faced by the company in China as "severe". The company joined a price war started by Tesla in January and slashed the starting price for its bZ4X EV by 15% in February.

Persons: Levin, bZ4X, Toyota's, Takao Kato, Kato, Tesla, Zhang Yan, Brenda Goh, Daniel Leussink, Mark Potter, Sharon Singleton Organizations: Toyota, JV, Guangzhou Automobile Group, Reuters, Toyota's JV, Guangzhou Toyota Motor, GAC Toyota, Mitsubishi Motors, GAC, China Association of Automobile Association, Thomson Locations: SHANGHAI, TOKYO, China, Guangzhou, Shanghai, Tokyo

☆ US new vehicle sales rise on strong demand, better supply
▼ + stars: | 2023-07-05 | by ( Pratyush Thakur | ) www.reuters.com time to read: +2 min

Vehicle production took a hit after the pandemic disrupted supply of semiconductor chips and other raw materials, hurting automakers' ability to meet the upsurge in demand for cars, trucks and SUVs. Toyota Motor's (7203.T) North America unit reported a 7.13% rise in U.S. sales to 568,962 units for the quarter ended June. Auto giant General Motors (GM.N), however, surpassed Toyota in the quarter, with a near 19% rise to 691,978 units in the United States. Earlier in the week, FCA US, a unit of Stellantis (STLAM.MI), reported a 6% increase in total U.S. sales. Power and GlobalData estimate total U.S. auto sales to reach 4,116,600 units in the quarter ended June, up 18.2% from a year earlier.

Persons: Cox, Jonathan Smoke, Toyota Motor's, J.D, Pratyush Thakur, Shivansh, Pooja Desai, Shilpi Majumdar Organizations: Toyota, Auto, General Motors, FCA, Tesla Inc, Thomson Locations: United States, America, Bengaluru

☆ 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

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