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Jan 3 (Reuters) - Tesla Inc (TSLA.O) shares kicked off 2023 with a 5% drop on Tuesday, extending a selloff from last year on growing worries about weakening demand and logistical problems that have hampered deliveries. The latest slide came after the world's most valuable automaker missed estimates for fourth-quarter deliveries despite shipping a record number of vehicles. Shares of the electric-vehicle maker were trading at $117 before the bell, after losing 65% of their market value in 2022, their worst year on record. The company, which had a peak market capitalization of more than $1 trillion, now has a valuation of about $390 billion. That still makes it the world's most valuable automaker, even though its production is a fraction of rivals such as Japan's Toyota Motor Corp (7203.T).
Yet, no country came close to the travel reluctance shown in Japan, where some 35% of respondents said they don't intend to travel again. The survey asked about "any leisure travel" and did not differentiate between domestic or international travel plans, said Lindsey Roeschke, a travel and hospitality analyst at Morning Consult. The number of people who say they'll "never travel" again is nearly six times greater in Japan (35%) than in Germany (6%), according to Morning Consult's "The State of Travel & Hospitality" report. We expect to see a return to the pre-2020 demand for international travel sooner rather than later. The British artist known as Miles Takes told CNBC Travel that "international travel still seems a while away" for him.
To put the figure in context, Alphabet (GOOGL.O), the parent company of Google and Waymo, has a market cap of $1.3 trillion. Automakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis. To support that unprecedented level of EVs, carmakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030, according to data from Benchmark Mineral Intelligence and the manufacturers. Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries, and expects to sell at least 3.5 million battery electric models (BEVs) in 2030. It plans at least 30 different BEVs and expects to transition the entire Lexus range to battery electric over that span.
Register now for FREE unlimited access to Reuters.com RegisterAutomakers have forecast plans to build 54 million battery electric vehicles in 2030, representing more than 50% of total vehicle production, according to the analysis. To support that unprecedented level of EVs, carmakers and their battery partners are planning to install 5.8 terawatt-hours of battery production capacity by 2030, according to data from Benchmark Mineral Intelligence and the manufacturers. Leading the charge is Tesla (TSLA.O), where Chief Executive Elon Musk has outlined an audacious plan to build 20 million EVs in 2030, requiring an estimated 3 terawatt-hours of batteries. Japan's Toyota Motor Corp (7203.T) is investing $70 billion to electrify vehicles and produce more batteries, and expects to sell at least 3.5 million battery electric models (BEVs) in 2030. It plans at least 30 different BEVs and expects to transition the entire Lexus range to battery electric over that span.
Toyota begins production at Myanmar plant hit by coup
  + stars: | 2022-10-12 | by ( ) www.reuters.com   time to read: 1 min
TOKYO, Oct 12 (Reuters) - Japan's Toyota Motor Corp (7203.T) has begun production at a plant in Myanmar whose launch was delayed by a military coup, the company said on Wednesday. In a statement, the automaker said production began in September, with one to two units a day. The assembly plant near Yangon was supposed to start operation in February 2021 but was delayed by the coup, it added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Satoshi Sugiyama; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.
Register now for FREE unlimited access to Reuters.com RegisterToyota's logo is seen at a Toyota Society Motors showroom in Karachi, Pakistan, July 27, 2022. The automaker suspended production in St Petersburg in March due to supply chain disruptions and stopped vehicle imports into Russia. Register now for FREE unlimited access to Reuters.com RegisterToyota has not decided to quit the Russian market completely but sees no prospect of resuming car production there, the sources said. Many factories in Russia have suspended production and furloughed workers due to shortages of high-tech equipment and an exodus of Western manufacturers after Moscow sent armed forces into Ukraine on Feb. 24 read more . Register now for FREE unlimited access to Reuters.com Registerreporting by Reuters; editing by Kevin Liffey and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
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