Toyota Motor forecast a 20 per cent profit decline in the current financial year on Wednesday, citing looming investment in both its suppliers and strategy after it delivered blockbuster fourth-quarter earnings.
The Japanese automaker was long criticised for pursuing its"multi-pathway" strategy championing hybrids and plug-in hybrids as well as EVs, a stance that is increasingly looking prescient given consumer concerns about EV driving ranges and the availability of charging stations.Toyota expects operating income to total 4.
Toyota said it plans to invest 1.7 trillion yen for growth this year in areas such as artificial intelligence and software.
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