Toyota to increase investments in electric vehicles

17:36 - 10.05.2024

May 10, Fineko/ Industrial giant Toyota will increase investments in electric vehicles.

Japanese automaker's fiscal year revenue reached its highest level since March, up 21.4% from the previous fiscal year to 45.1 trillion yens, ABC.AZ informs with reference to the foreign press.

Driven by hybrid demand, company's net profit doubled compared with the previous fiscal year, reaching 4.94 trillion yens ($31.9 bn), and the brand wants to shift the high revenues it receives to electric-powered vehicles.

Toyota, which started paying more attention to electric vehicles after Koji Sato took office, is not fully building its future on electric vehicles, which means it still wants to develop cars with an internal combustion engine, but will now invest in electric models.