Toyota raises profit forecast
Toyota raises profit forecast and aims to double down in China
Toyota raised its full-year profit forecast on cost-cutting efforts, despite recording a second consecutive quarterly drop in profit, as sales growth driven by a hybrid boom cooled off. The world’s largest automaker said on Wednesday that operating profit came in at ¥1.
Toyota said Wednesday it will build an EV plant in Shanghai, China. The plant will produce a new Lexus brand EV vehicle.
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