Latest news with #AkioToyoda
Yahoo
4 days ago
- Automotive
- Yahoo
Toyota to shift GR Corolla production to Britain
Toyota is set to relocate part of its GR Corolla sports car production to Britain, with plans to invest approximately $56m in a dedicated production line, reported Reuters, citing two people with knowledge of the matter. This strategic shift aims to utilise excess capacity in Britain to reduce delivery wait times for the GR Corolla, a move not influenced by US tariffs. The decision comes amidst the backdrop of the Trump administration's recent agreement to lower tariffs on auto imports from Britain to 10% for up to 100,000 vehicles annually. Meanwhile, Japan seeks to repeal the 25% tariffs imposed on all auto imports by the US, presenting an additional challenge for global automakers. Currently, Toyota manufactures the GR Corolla in Japan for both domestic and international markets, including North America. However, the high demand from engine enthusiasts in North America has outpaced supply. To address this, Toyota will reportedly establish a production line at its Burnaston plant in Derbyshire to produce 10,000 units annually from mid-2026. The Burnaston plant, operational since 1992, has experienced a production decline post-Brexit. It already produces the Corolla GR's base model, making it a suitable choice for the new production line. Engineers from Japan will temporarily assist in transferring production technology and expertise. In response to inquiries, Toyota stated it continuously seeks ways to optimise production, though it has not publicly confirmed this report. The GR Corolla is one of three high-performance vehicles produced at Toyota's Motomachi Plant, which is currently operating at full capacity. Last year, the Motomachi Plant produced around 25,000 cars, including 8,000 GR Corollas. Toyota's US facilities are also focused on meeting the demand for hybrids and other vehicles, limiting the possibility of shifting GR Corolla production there. Toyota plans to absorb any cost increases from tariffs through cost-cutting measures, ensuring prices remain stable. The GR series, inspired by Chairman Akio Toyoda's passion for racing, integrates motorsport technology into commercial vehicles. While the GR series' sales volume is modest, the vehicles offer higher margins due to their intricate production processes. The transfer of North America-bound production to Britain could allow the Motomachi plant to focus on vehicles for Japan and other markets. "Toyota to shift GR Corolla production to Britain – report" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
News.com.au
24-05-2025
- Automotive
- News.com.au
2025 Lexus LBX Morizo RR review
Take the fizzing turbo engine from Toyota's GR Yaris, wrap it in a luxury skin, then lower, widen and stiffen. Cook it up and it's the most 'Banzai!' Lexus we've seen in years – the LBX Morizo RR. This new model shakes off the normal LBX's sensible shackles to become a Gazoo Racing LBX city SUV in all but name. The code name Besides, the Morizo 'Rookie Racer' badge is cooler, as it's the alias of Toyota Corp's chairman – and utter rev head – Akio Toyoda. Such is the big boss's affection for this hot little Lex, he's gifted his racing name to the model. Why? Because it's the funnest Lexus we've seen in years. But it's not cheap. At $76,490 – over $80,000 to drive away – it's 30 grand more than a well-equipped entry-level LBX hybrid. But that's not stopped Aussie shoppers. There's already a year-long waiting list for this Morizo RR. Here's the appeal. Its screaming 1.6-litre three-cylinder turbo's good for 206kW and 390Nm, meaning 0-100km/h in only 5.2 seconds. That matches Toyota's GR Yaris weapon, and trumps the larger GR Corolla. Helping the performance cause is race car-like electronically variable all-wheel drive, Torsen rear limited slip differential, bespoke sports suspension, forged aluminium 19-inch wheels and sticky Continental performance tyres. It looks the business There's body coloured fenders, twin exhausts, unique bumpers for improved airflow, red brake callipers on ventilated rotors, and it sits 15mm lower and 15mm wider than lesser LBXs. Front occupants enjoy semi-aniline leather and suede heated seats; dash and door trims are suede with red stitching, there's classy push button door handles, aluminium pedals and chunky heated steering wheel. It's not luxe-dripping like larger Lexus offerings, but feels classy enough inside, and a mighty leap over the hard plastic cocoon of the related Toyota Yaris Cross. Tech includes an angled 9.8-inch infotainment screen, wireless CarPlay/Android Auto (which you must use – the native software's very average), digital driver display, Mark Levinson audio and five USB-C ports. Why you need five is a mystery, as this LBX is cosy for two but a serious squeeze for more. Rear seats are a challenging fit, and the boot's also a tiddler as the rear suspension changed to a sportier independent set-up. Which shows priority's been given to the drive rather than practicality. Good. Something is missing But then a major misstep, for this reviewer at least, is no manual gearbox offered. Not only is a six-speed stick shift offered in the GR Yaris and Corolla, LBX Morizo RRs in Japan feature three pedals. Lexus Australia (rightly) says demand for manuals is near non-existent here, but we still say boo. On our Victorian Alps test road, the driver engagement is still extraordinary. Being a Lexus, this mongrel LBX must be more sophisticated than commoner GR Toyotas, so isn't as raw, exhaust-poppy and spine-smashingly firm. But it remains toylike in bends, exhibiting phenomenal balance and grip, while the steering – key to a rewarding car – is superbly weighted in Sport mode, helping accurate dives into a corner apex. It's a car that just sticks. Glue like. The engine is a star Its petrol particulate filter robs of some performance next to a GR Yaris, but you'd not notice. Torque pull's mighty so you fly out of bends, ready to nimbly dart into the next direction change. The eight-speed auto gearbox is smooth and eager, and paddles give control to hold it to the redline, where the noise is windows-down worthy. It's docile in town, but seriously thirsty. Reckon on over 12L/100km on urban or back roads. Ride quality's also on the firm side for daily use, but you'll forgive it for the thrills offered. Unlike $6950 for five years' servicing – that's tough to swallow. Verdict No manual gearbox is a shame, but it's still a great fun, capable and desirable pocket rocket dressed in a fancy Lexus suit. 4 stars 2025 Lexus LBX Morizo RR ENGINE: 1.6-litre three-cylinder turbo petrol, 206kW and 390Nm THIRST: 9.2L/100km
CNA
24-05-2025
- Automotive
- CNA
Advisory firm Glass Lewis backs Toyota chairman re-election
TOKYO : Advisory firm Glass Lewis has recommended shareholders re-elect Toyota Motor Chairman Akio Toyoda at this year's annual general meeting in June. Glass Lewis had recommended that shareholders vote against his re-election the past two years. Toyoda's position at the automaker has come under scrutiny over governance concerns. Toyoda, the grandson of the company's founder and previously its chief executive, has seen shareholder support slip in recent years. He was re-elected to the board with backing from 72 per cent of the shareholders in 2024, down from 85 per cent and 96 per cent, respectively, in the prior two years. In a July 2024 interview by the automaker's own news outlet, Toyoda said that his seat on the board could be at risk if shareholder support continued to fall. He said then that the 2024 result marked the lowest support rating ever for a director in Toyota's history. In addition to Glass Lewis, proxy adviser Institutional Shareholder Services (ISS) has also recommended shareholders re-elect Toyoda this year, in contrast to last year when it recommended a vote against him.
Reuters
24-05-2025
- Automotive
- Reuters
Advisory firm Glass Lewis backs Toyota chairman re-election
TOKYO, May 24 (Reuters) - Advisory firm Glass Lewis has recommended shareholders re-elect Toyota Motor (7203.T), opens new tab Chairman Akio Toyoda at this year's annual general meeting in June. Glass Lewis had recommended that shareholders vote against his re-election the past two years. Toyoda's position at the automaker has come under scrutiny over governance concerns. Toyoda, the grandson of the company's founder and previously its chief executive, has seen shareholder support slip in recent years. He was re-elected to the board with backing from 72% of the shareholders in 2024, down from 85% and 96%, respectively, in the prior two years. In a July 2024 interview by the automaker's own news outlet, Toyoda said that his seat on the board could be at risk if shareholder support continued to fall. He said then that the 2024 result marked the lowest support rating ever for a director in Toyota's history. In addition to Glass Lewis, proxy adviser Institutional Shareholder Services (ISS) has also recommended shareholders re-elect Toyoda this year, in contrast to last year when it recommended a vote against him.
Japan Times
23-05-2025
- Automotive
- Japan Times
ISS reverses stance and backs Toyota chief's reappointment
A firm that advises large investors backed the reappointment of Chairman Akio Toyoda to Toyota's board, reversing its position from a year ago. "There are no particular concerns about the nominee,' Institutional Shareholder Services said in a report Thursday. The world's No. 1 carmaker will hold its annual meeting June 12. ISS, Glass Lewis and other proxy advisory firms can influence voting at shareholder meetings by providing an analysis for why stakeholders should support or reject proposals on directors and other matters. Last year, ISS and Glass Lewis recommended against Toyoda's re-election, citing concerns over governance and his handling of a series of vehicle safety scandals, as well as Toyota's commitment to reducing its impact on climate change. Representatives for Toyota didn't immediately respond to a request for comment. Shareholder support for Toyoda, whose grandfather founded the company, has been slipping in recent years. More than a quarter of votes cast at last year's annual meeting opposed his reappointment. His share of affirmative votes dropped to 72%, from 85% and 96% in the prior two years. Toyoda has said that his seat on the board could be at risk if shareholder support continues to decline. "No board member in Toyota's history has seen their support fall so low,' he said in a podcast interview with Toyota Times, the company's media outlet, in July 2024. Toyoda has long been the face of the company, which he led from 2009 until 2023, when he ceded the chief executive officer role to Koji Sato. Last year's regulatory scandals caused Toyoda's opposition to spread among big shareholders, including Nissay Asset Management and Mitsubishi UFJ Asset Management. The scandals began with government probes that uncovered falsified vehicle safety certifications in December 2023 at a pair of subsidiaries — Daihatsu Motor and Toyota Industries — then a few months later at the carmaker itself. This year, the focus could fall on Toyoda's ¥6 trillion ($41.7 billion) plan to buy out Toyota Industries, and whether the take-private deal by the founding family will help or hurt the carmaker's push to improve corporate governance. Toyoda owns less than 1% of Toyota Motor, while Toyota Industries — a major forklift manufacturer and producer of car parts and textile machinery — has a 9.1% stake in the carmaker. Much depends on how these holdings are rationalized if and when the deal proceeds. Voting at shareholder meetings in Japan are becoming more consequential, as the government urges businesses to unwind ownership of stock in each other. That's triggered a broader dissolution of cross-held shares among the country's biggest companies, those including between Toyota and its suppliers, affiliates and banks.
