When auto analysts are anticipating that electric and hybrid cars are the future of the auto industry, Toyota Motor Corporation, with its wide range of gasoline-powered car engines, is still the leading car maker among its competitors.
As per reports, Toyota’s revenue has increased by 10%, making it the World’s highest-valued car company for 2022 – for the third consecutive time. The milestone has nudged it to surpass its rivals, including Tesla, BMW, and Mercedes-Benz.
Toyota’s brand value clocks at $59.757 billion, simply beating Mercedes-Benz, Tesla, BMW, and Honda, reaching $56.103, $48, $46.331, and $22.837 billion, respectively.
Mind you, the pandemic-led restrictions and chip shortage shattered the supply chain, which in turn affected the leading automakers – increased the competition among car makers.
Toyota Faced Tough Time
In the last few months, the company faced many production cuts on the international level in the face of COVID-19 curbs, natural hazards, and related operational calamities.
Moreover, the automaker also found itself in shambles when experts, analysts, and environmental specialists denounced it for hesitating to adopt electric car technology.
Toyota’s First-Ever Electric Sedan
After the car giants around the World are inclined to say goodbye to fuel-powered engines, Toyota also took its turn – unveiled its first electric sedan, bZ3, for the Chinese market.
We can also assume it is the company’s second pure electric car after the bZ4X SUV, the company stopped its production in the face of persisting mechanical issues.
Reports have revealed that the car is produced with the collaboration of Chinese automakers like BYD and FAW Group. And; it is pertinent to mention that the car will only be allowed to be sold in the Chinese market – carries the capacity to compete with Tesla model 3.
The base model will be equipped with an electric motor producing 183 hp whilst the upper model will be powered by 244 hp. However, the top speed in both variants will be 160km/h.
What do you think about another milestone Toyota has achieved this year again and its EV strategy? Share your thoughts in the comment section?
“environmental specialists denounced it for hesitating to adopt electric car technology. ”
NGO like greenpeace aren’t environemental specialist.
Toyota knows the dark side of electric cars and Toyota is not alone, a lot of environmental specialists knows.