Why Toyota Stock Bumped Higher on Monday
On Monday, investors brushed aside worries about the current state of international trade and pushed up the stock of Japanese auto giant Toyota Motor (NYSE: TM). The company announced a significant expansion of its electric vehicle (EV) portfolio and indicated it would start to produce such models in its U.S. factories. Toyota's shares closed the day more than 1% higher on a generally down day for stocks.Sunday night, Japanese newspaper Nikkei Asia said Toyota plans to have roughly 15 EV models developed on its own by 2027, which would be a considerable expansion of its current lineup of five models. By that year, it aims to produce approximately 1 million such vehicles, which would be seven times the level of 2024 production. The brief article, which did not cite any sources, added that Toyota will produce EVs not only in its native Japan but also in China, elsewhere in Asia, and the Americas. The newspaper did not get more specific. Currently, the company's EVs are only manufactured in China and Japan.Continue reading
On Monday, investors brushed aside worries about the current state of international trade and pushed up the stock of Japanese auto giant Toyota Motor (NYSE: TM). The company announced a significant expansion of its electric vehicle (EV) portfolio and indicated it would start to produce such models in its U.S. factories. Toyota's shares closed the day more than 1% higher on a generally down day for stocks.
Sunday night, Japanese newspaper Nikkei Asia said Toyota plans to have roughly 15 EV models developed on its own by 2027, which would be a considerable expansion of its current lineup of five models. By that year, it aims to produce approximately 1 million such vehicles, which would be seven times the level of 2024 production.
The brief article, which did not cite any sources, added that Toyota will produce EVs not only in its native Japan but also in China, elsewhere in Asia, and the Americas. The newspaper did not get more specific. Currently, the company's EVs are only manufactured in China and Japan.
