Laggards Toyota, Honda must find new local suppliers to compete in electrics
TOKYO -- The U.S. program that subsidizes purchases of electric vehicle built in North America has triggered an investment rush by global automakers, but Japanese companies, which now account for less that 1% of EV production in that market, face an urgent need to create local supply chains to prevent being shut out of the bonanza. Carbon Steel Car Parking Chain
At a Toyota Motor briefing on Friday about its new organizational plans, President Koji Sato emphasized a commitment to develop the next generation of EVs and plans to produce an electric sport utility vehicle in the U.S. in 2025, marking the company's first local production of EVs.
Discover the all new Nikkei Asia app
Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.