Laggards Toyota, Honda must find new local suppliers to compete in electrics
TOKYO -- The U.S. program that subsidizes purchases of electric vehicle built in North America has triggered an investment rush by global automakers, but Japanese companies, which now account for less that 1% of EV production in that market, face an urgent need to create local supply chains to prevent being shut out of the bonanza. Carbon Steel Car Parking Chain
At a Toyota Motor briefing on Friday about its new organizational plans, President Koji Sato emphasized a commitment to develop the next generation of EVs and plans to produce an electric sport utility vehicle in the U.S. in 2025, marking the company's first local production of EVs.
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