Japanese auto giant Toyota will step up efforts to develop electric car technology in China to maintain its competitiveness in the world’s largest market. It’s no secret that Chinese automakers are progressing very fast, especially in the development of electric cars, while Toyota is lagging behind in this segment.
Toyota is far from the only car manufacturer that is having a hard time competing with Chinese car manufacturers in China – Volkswagen was forced to reduce prices for the electric ID.3 and the German car concern also bought shares in the Chinese car manufacturer Xpeng. Audi is also far from rosy when they purchase a Chinese electric car platform, as the VW Group’s MEB platform is rapidly aging and becoming uncompetitive in the fight with the Chinese offer.
The Japanese car manufacturer still maintains the opinion that the key to future success lies in a diversified model offering, that is, Toyota wants to offer electric cars, hybrids and also hydrogen cars.
It is known that Toyota cars for the Chinese market will be developed on the spot – Toyota will cooperate with GAC, BYD and FAW concerns, developing car design and various technological solutions, working in the largest Toyota R&D center in China. Toyota is not yet revealing how many people will be involved in this project, but in an interview Reuters company representatives emphasized that they will focus on “electrification and intelligence”.
2023-08-05 09:00:00
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