Toyota Sees Need to Localize EV Production -- WSJ
April 21 2023 - 7:05AM
Dow Jones News
By River Davis
TOKYO--Toyota Motor Corp. President Koji Sato said electric
vehicles should be produced locally in markets like China and the
U.S. where the auto maker is working to strengthen its sales of
battery-powered vehicles.
"With EVs, increasing productivity is a very important factor,"
Mr. Sato said, speaking with reporters in Tokyo on Friday. Toyota's
idea is to keep supply chains compact, and by doing so, lower
logistics and procurement costs, he said.
"In regions where we are speeding up our operations, there is a
need to boldly localize production," Mr. Sato said.
He said this was in keeping with Toyota's longstanding principle
of developing and producing cars close to where the company's
customers are. He said the principle applies to China, the U.S. and
other major regions.
Write to River Davis at River.Davis@wsj.com
(END) Dow Jones Newswires
April 21, 2023 06:50 ET (10:50 GMT)
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