Latest news with #Toyota
Business Times
41 minutes ago
- Automotive
- Business Times
This US$7,000 single-seat electric car is a big hit in Japan
[TOKYO] In the rural suburbs of Hiroshima, a Japanese startup is trying to kick start the nation's electric vehicle (EV) market with the smallest, cheapest car it can possibly make. KG Motors has developed a battery-powered one-seater that more resembles a futuristic golf cart than it does a modern EV, much less a traditional car. And yet well over half of the 3,300 units it plans to deliver by March 2027 have already been pre-sold to customers. Incidentally, that puts it on track to sell more EVs in Japan than the world's biggest automaker, Toyota Motor, which shifted around 2,000 vehicles in all of 2024. In a country where EVs are still a rare sight, KG Motors is trying to bust a burgeoning myth: that bigger is better. 'Cars are simply too big,' founder and chief executive officer Kazunari Kusunoki said. 'Seeing so many big cars travelling Japan's narrow streets – that's where this all began for me.' At under 1.5 metres in height, KG Motors' mibot has a range of 100 kilometres, a charging time of five hours and a top speed of 60 kilometres per hour. It will cost one million yen (S$8,877) before tax when production starts in October at KG Motors' new factory east of the city. That's about half the price of Japan's most popular EV, Nissan Motor's Sakura. To date, domestic and foreign automakers alike have struggled to find traction for EVs in Japan. The cars accounted for about 140,000 units or around 3.5 per cent of total vehicle sales in 2023, a far cry from the global average of 18 per cent, according to BloombergNEF. Chinese behemoth BYD, for example, sold 2,223 automobiles in Japan in 2024 – a sliver of the 4.3 million it delivered worldwide. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Toyota and its Japanese peers, meanwhile, are at odds with other legacy automakers that hold an all-electric view of the future. Toyota has long harboured a multi-pathway approach to a greener tomorrow, one where EVs as well as petrol, hybrids and hydrogen-powered vehicles play a role. As a result, the petrol-electric hybrids pioneered by Japanese manufacturers still dominate. 'Toyota said EVs are not the only solution and, because it's Toyota, Japanese people assume it must be true,' Kusunoki said. 'A large number of people in Japan seem to believe EVs won't become popular.' Japan, at least, has been slower to embrace the global trend towards larger, roomier vehicles. Smaller autos have always been a feature in the Asian nation and its lightweight kei cars have even found cult followings abroad. In recent years, they have claimed the lion's share of the domestic EV market, accounting for 55 per cent of total sales in 2023. Nissan's Sakura is a kei car, with just under 23,000 units sold in 2024. In April, BYD said it's planning to produce a fully-electric kei car specifically for the Japanese market in the second half of 2026, while Hyundai Motor introduced the Inster earlier this year, a 2.9 million yen vehicle it claims to be Japan's cheapest EV, at least among full-sized passenger cars. Small-sized EVs have helped spark consumer acceptance of battery-powered cars overseas as well. In China, the world's biggest EV market, Saic-GM-Wuling Automobile's Hongguang Mini was at one point the nation's top seller. Still, with its single-seat design, KG Motors' mibot is in a tiny league of its own. The first 300 should be delivered to customers in Hiroshima and Tokyo before the end of next March, while the other 3,000 will be shipped nationwide, Kusunoki said. KG Motors says it will lose money on the first batch but should break even on the second. After that, the company aims to produce around 10,000 units annually. The startup's size and make-to-order strategy could work in its favour. EVs use far less parts than conventional petrol or hybrid vehicles but the mibot takes that to another level, essentially consisting of a battery, motor and sparse electronics connected by wiring housed within a monocoque chassis on four wheels, so production costs are low. Even KG Motors' marketing draws on Kusunoki's former life as a YouTube content creator. The company has published footage on its website of the mibot being tested on the icy roads of Hokkaido, squeezing between homes packed into Hiroshima's historic districts and smashing into concrete walls at high speeds to ensure it satisfies Japan's strict safety regulations. Kusunoki, 43, who founded KG Motors in June 2022, grew up in Higashihiroshima, a suburban town with streets sometimes too narrow even for a Japanese sedan. He watched the country's public transport infrastructure deteriorate as a shortage of taxi drivers was compounded by an ageing, shrinking population. As young people migrate to big cities, it's also becoming more difficult for the elderly to get around. As a result, KG Motors ultimately sees demand for one- or two-seater compact, cost-efficient cars. As at early May, the company had received 2,250 orders, with over 95 per cent coming from homeowners with at least one vehicle. 'In rural parts of the country, public transportation systems are in shambles,' Kusunoki said. 'This might be hard for someone living in Tokyo to understand but at some point, it becomes necessary to have one car per person, not just per household.' BLOOMBERG
The Star
2 hours ago
- Business
- The Star
Toyota becomes top shareholder in Joby Aviation
The latest tranche raises Toyota's stake to 15.3%. — Bloomberg TOKYO: Toyota Motor Corp has invested US$250mil in Joby Aviation Inc, completing the first half of a previously announced US$500mil commitment and becoming the air taxi maker's largest shareholder. The investment, originally expected to close in 2024, is part of Toyota's pledge to boost its total funding in the Santa Cruz, California-based company to US$894mil. The latest tranche raises Toyota's stake to 15.3%, surpassing that of Joby chief executive officer (CEO) JoeBen Bevirt. A US spokesman for Toyota confirmed the payment. Joby has said it expects the second tranche from Toyota to close later this year. The stock had closed regular trading Tuesday down about 15% for the year. Joby is among a handful of companies developing eVTOL aircraft – electric vertical takeoff and landing vehicles – that plan to fly customers on short commuter journeys via battery-powered air taxis. 'This milestone further cements the collaboration and alignment between our two companies,' Tetsuo 'Ted' Ogawa, CEO of Toyota North America, said in a statement Tuesday. Joby said recently it now aims to start commercial services in Dubai by early 2026 after having previously targeted the end of this year. Certification for flight operations by the US Federal Aviation Administration and regulators in other countries is still pending. Toyota began financing Joby in 2020, two years after its venture capital arm participated in a funding round. — Bloomberg Trading ideas: Samaiden, Pestech, Jati, Paradigm REIT, Bursa, MPI, THB, HLB, TM, Axiata, MISC, Genting Plantations, IOIProp, SimeProp, Kerjaya, AAX, 7-Eleven
Motor Trend
2 hours ago
- Automotive
- Motor Trend
The 2026 Toyota RAV4 GR Sport PHEV Isn't the First Ultra-Sporty RAV4
The 2026 Toyota RAV4 lineup is wider than ever, with so-called "core" models forming the backbone of the bestselling compact SUV's family, and a new Woodland off-road trim joining an equally new GR Sport trim level on the fringes. While there are other "sport" themed RAV4s available, namely an XSE model, the zestiest of the bunch is that GR Sport. 0:00 / 0:00 It combines the new RAV4's most powerful powertrain—a 320-hp plug-in hybrid setup—with a lowered suspension, sticky summer tires, and heavily bolstered seats. Sounds wild, right? Well, it's not the first time Toyota's gotten weird with the RAV4, which has otherwise been an exemplar of the mainstream since its 1996 introduction. New Sport, Same as the Old Sport? The Sport trim level has been offered with RAV4s on and off for decades, but the GR Sport isn't the first one with huge power underhood. The last-generation RAV4's Prime (later Plug-In Hybrid) version offered up a stout 302 ponies and came only in Toyota's sportier XSE trim level. Before that, the only other RAV4 that qualified as "powerful" is the only RAV4 ever to offer V-6 power, the third-generation model sold between 2006 and 2012. It was larger than the dinkier first- and second-gen versions, so much so it even offered a (tiny) third-row seat option. But the headliner was that optional 3.5-liter V-6 that Toyota stuffed between its front wheels. While most third-gen RAV4s were sold with a 2.4-liter inline-four sending 166 hp through a four-speed automatic transmission, the optional V-6—available across the lineup, from the entry-level version with unadorned steel wheels to the Sport to the top-tier Limited variant—was where the real action was at. The 3.5-liter V-6 borrowed from the larger Avalon sedan pushed out a mighty 269 hp and 246 lb-ft of torque and enjoyed an extra forward ratio in its five-speed auto. For a time, V-6-powered RAV4s were the quickest new Toyotas you could buy; MotorTrend tested one that reached 60 mph in only 6.3 seconds. Nothing else in the compact SUV segment at the time even came close to the Toyota's muscle, which was deployed most effectively in the firmed-up, big-wheel RAV4 Sport model. Well, there was one SUV with the power to challenge the V-6 RAV4: The electric one. Yep, from 2012 to 2014, at the tail end of the RAV4's third generation and well into the fourth-gen RAV4's tenure, Toyota sold an EV version based on the 2006–2012 RAV4. Believe it or not, but the third-generation RAV4 was actually not the first RAV4 to offer an all-electric variant (there was a second-generation spin-off first), and the 2012 version came loaded with an early Tesla powertrain (!) and a 42-kWh battery good for a mere 100 miles of driving range. Power output from the single motor (derived from one in the Model S but significantly detuned) stood at 154 hp and 273 lb-ft of torque, routed to the front wheels via a single-speed transmission. This was good for a seven-second 0–60-mph time, according to Toyota, when the RAV4 EV was placed in its Sport drive mode. (The regular setting lengthened acceleration time to 8.6 seconds.) These were only offered in certain states, and can be picked out by their lack of an external spare tire, body-color grille delete panel (with goofy large "EV" lettering beneath the Toyota lettering), blue-tinged badges, and unique headlight internals. Actually, Sort Of! In a way, the 320-hp plug-in hybrid RAV4 GR Sport is an amalgamation of the third-generation RAV4's most powerful powertrain options. Today, four-cylinder engines have largely supplanted six-cylinder options in the compact and midsize vehicle segments, so the GR Sport PHEV's system being anchored by a heavily electrified four-cylinder engine not only follows that trend, but its e-motor support recalls the oddball Tesla-powered RAV4, as well. Like other plug-in-hybrid 2026 RAV4s, the GR Sport's system is 18-hp more powerful than the last-generation RAV4 PHEV. It combines a 2.5-liter four-cylinder engine with two electric motors and a planetary-type continuously variable automatic transmission (CVT) to power the front axle, along with a third electric motor that lives on the rear axle and spins the rear tires for on-demand all-wheel drive. The onboard battery can be charged at up to 11 kW on an AC home charger, but strangely, the GR Sport does not offer the same CCS-style DC fast-charging port as the lesser RAV4 XSE and Woodland PHEV trim levels. So, while the GR Sport is likely to be among the quicker RAV4s on sale later this year, that'll only apply to its straight-line speed—not its on-the-go charging speeds. Where the 2006–2012 RAV4 Sport featured cool 18-inch wheels and meaty, relatively low-profiled (for the time) all-season tires along with a firmed-up suspension and blacked-out trim, the 2026 RAV4 GR Sport goes ham sandwich on apparent track-readiness. It wears Dunlop Sportmaxx summer tires wrapped around 20-inch wheels that fill more of the fenders—their offset is wider than regular RAV4 wheels—and beefy brakes with red-painted calipers. The GR Sport's face is entirely different from the headlights down relative to other 2026 RAV4s, with a gaping lower intake and huge vents at each front corner. Out back, a wild spoiler sprouts from the top of the tailgate, and the lower bumper incorporates as much black trim as the nose. Inside there is a black-and-red color scheme, with red contrast stitching, sporty aluminum pedals, and heavily bolstered front seats not shared with other RAV4s. Will this GR Sport be the quickest factory RAV4 ever? Last year's RAV4 Plug-In Hybrid was capable of a relatively quick 5.5-second zero-to-60-mph time. With the GR Sport's stickier tires, hotter chassis setup, and the same 18-hp bump shared by other plug-in-hybrid 2026 RAV4s, we anticipate it will be. But just remember—it wouldn't be the first time the RAV4 delivered unexpected power and performance, even if we won't ever see a V-6 (or a Tesla-sourced motor) under the hood again.
Yahoo
3 hours ago
- Business
- Yahoo
Joby Aviation, Inc. (JOBY) Soars Almost 29% After Securing $250 Million Investment from Toyota
Joby Aviation, Inc. (NYSE:JOBY) stock surged significantly on Wednesday after the electric air taxi developer announced it had received a $250 million investment from Toyota. This funding is part of a previously disclosed $500 million commitment from the automaker, aimed at helping Joby Aviation, Inc. (NYSE:JOBY) move closer to certification and large-scale production of its electric air taxis. Toyota initially revealed the investment plan in October. Joby specializes in electric vertical takeoff and landing aircraft, or eVTOLs, which operate similarly to helicopters. The technology is designed to help ease urban traffic and lower emissions. The new funding adds to Toyota's earlier $394 million investment in Joby during a Series C funding round in 2020. Toyota North America CEO Tetsuo Ogawa joined Joby's board in July 2023, and the company has had a Toyota representative on its board since 2020. CEO and founder of Joby Aviation, Inc. (NYSE:JOBY), JoeBen Bevirt, made the following comment in the release: 'We're already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design. This is an important next step in our alliance with Toyota to scale the promise of electric flight.' Joby Aviation, Inc. (NYSE:JOBY) closed nearly 29% higher on May 28. While we acknowledge the potential of JOBY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than JOBY and that has 100x upside potential, check out our report about this cheapest AI stock. READ MORE: and Disclosure. None.
Entrepreneur
3 hours ago
- Business
- Entrepreneur
Toyota Supercharges Joby: $250M Capital Infusion Ignites Stock
This story originally appeared on MarketBeat [content-module:CompanyOverview|NYSE:JOBY] Joby Aviation (NYSE: JOBY) saw its stock price climb sharply on May 28, 2025. This surge followed a major announcement that has clearly excited investors about the electric air taxi developer's future. The company confirmed it has received the first $250 million part of a larger investment from automotive leader Toyota Motor Corporation (NYSE: TM). This significant funding immediately boosted market confidence, and Joby's shares jumped over 27% to trade around $8.78 during the day. Trading volume was also exceptionally high, with about 67.41 million shares changing hands, far above its average of roughly 12.31 million. The enthusiastic market response underscores the significance of the strengthened partnership with Toyota in Joby's plan to launch its innovative eVTOL (electric vertical takeoff and landing) aircraft. Why Toyota's $250M is a Game-Changer for Joby This $250 million capital injection puts cash in the bank for Joby Aviation, marking a crucial deepening of its strategic partnership with Toyota. This payment marks the first installment of a previously announced $500 million total investment from the automotive giant, underscoring its ongoing and strong support. The money is specifically aimed at two vital areas for Joby: completing the Federal Aviation Administration (FAA) certification for its aircraft and preparing for large-scale commercial production. Both steps are expensive and essential for Joby to start its air taxi service. A Partner's Conviction: Toyota Now Joby's Leading Shareholder [content-module:Forecast|NYSE:JOBY] Beyond providing capital, Toyota has also significantly increased its ownership stake in Joby Aviation as part of this $250 million investment. A director representing Toyota Motor Corporation purchased approximately 49.7 million shares of Joby Aviation stock. These shares were bought at an average price of $5.03 each. This large purchase solidifies Toyota as Joby Aviation's top shareholder. After this transaction, Toyota's total holding in Joby increased by 68.20%, now totaling 122.57 million shares. Toyota's increased investment, ownership, and significant industry expertise and board representation strongly signal market confidence in Joby and its future. Investors can also view this as a powerful insider endorsement. It suggests Toyota strongly believes in Joby's technology, management team, and long-term potential for success. This level of commitment from a global manufacturing leader like Toyota directly strengthens the investment case for Joby, providing a degree of validation that exceeds typical market speculation. Volume and Options Activity Underscore Enthusiasm [content-module:TradingView|NYSE:JOBY] The market's reaction to Toyota's investment was strong and clear. Besides the immediate stock price jump to around $8.78, trading volume was exceptionally high. Over 70 million shares were traded by midday on the day of the announcement, nearly six times Joby's recent average volume. This high volume shows that many investors were actively engaging with the stock following the news. Further highlighting bullish sentiment, there was unusual activity in the options market. The volume of call options increased by approximately 638% compared to normal levels. This suggests that some traders are making speculative bets on Joby's increasing stock price. It is also important to note that after this surge, the company's stock price moved above the average analyst price target of $8.67 that was in place before this Toyota funding news. Analysts often review their financial models and issue updated price targets when a company announces such a significant positive development. This reassessment often leads to the issuance of revised price targets that reflect the potential impact of the new information on the company's future performance and prospects. The Toyota funding news represents a material event that is likely to prompt a widespread review and potential upward adjustment of analyst expectations for Joby Aviation. What Toyota's Backing Means for Joby's Future Toyota's $250 million investment tranche marks a significant milestone for Joby Aviation, providing crucial capital and strengthening a strategic alliance with a manufacturing leader. This partnership is essential for Joby's efforts to scale the production of its electric air taxis. This development significantly reduces the risks associated withalization plans for investor Joby's commercis, as reflected in the positive stock market response. Bolstered by this financial support and a closer manufacturing relationship with Toyota, Joby Aviation is in a stronger position to execute its commercialization strategy and pursue a leading role in the developing urban air mobility sector. Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list. They believe these five stocks are the five best companies for investors to buy now... See The Five Stocks Here
