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Toyota, Mazda form electric car technology venture

TOKYO — Toyota has established a new venture to develop electric vehicle technology with partner Mazda, seeking to catch up with rivals in an increasingly frenetic race to produce more battery-powered cars. Policymakers in key markets like China are pushing a shift to electric cars over the next two to three decades, while relatively new rival Tesla is gaining momentum and diesel cars are going through the fallout of the Volkswagen diesel scandal, pressuring traditional automakers to crank up plans for fully electric vehicles (EVs). At the same time, declining battery costs are enabling more power to be packed into cars, making an electric car future easier to imagine. Toyota said in a statement the new company will develop technology for a range of electric cars, including mini vehicles, passenger cars, SUVs and light trucks. Toyota will take a 90 percent stake in the joint venture, called EV Common Architecture Spirit Co Ltd, while Mazda and Denso Corp, Toyota's biggest supplier, will each take 5 percent. The plans build on a partnership announced in August when Japan's biggest automaker agreed to take a 5 percent stake in Mazda and two said they would jointly develop affordable electric vehicle technologies. Although Toyota is providing most of the financial firepower and existing EV know-how, Mazda's engineers have gained the admiration of the industry with breakthrough technologies such as its compression ignition engine announced last month. Shares in Mazda surged to end the day 3 percent higher, while those in Denso rose 1.8 percent. Toyota shares were flat. Both automakers are somewhat behind rivals, with neither having a fully electric passenger car on the market yet. After years of focusing on bringing hydrogen fuel cell vehicles to the market, Toyota last year set up a division to develop electric cars which is led by President Akio Toyoda, and said it plans to introduce EVs in China in the coming years. Toyota has also announced it will bring a game-changing solid-state EV battery to market by 2022. That division would continue as a separate entity from the new joint venture, a Toyota spokeswoman said, while adding that the two teams would co-operate on technology development. Mazda has an R&D budget a fraction of Toyota's, which has made it difficult to develop electric cars on its own. Even so, it has said it plans to launch EVs in 2020.

Toyota reveals custom Mark X, Harrier and Prius for Tokyo Auto Salon

Toyota offers a robust lineup of models in markets around the world – ours included – but there are certain models that remain reserved for Japan, and now it has revealed some tantalizingly modified versions for its home market. Arguably chief among them is a version of the Mark X that's been upgraded by GRMN. For those unfamiliar, the Mark X is a rear-drive sport sedan offered in the Japanese Domestic Market, while GRMN (shorthand for Gazoo Racing Masters of Nurburgring) is the street-tuning division of one of the company's racing departments. The confluence of these two Japanese lines brings some enticing upgrades to the sedan, including a new front bumper, carbon-fiber roof, trunk spoiler, 19-inch alloys, sport suspension, upgraded brakes and an interior decked out with sports sedans and steering wheel as well as carbon, piano black and Alcantara trim. Motivation comes from a 3.5-liter V6 driving 316 horsepower to the rear wheels through a six-speed manual transmission and Torsen limited slip differential. Joining the Mark X GRMN are a pair of models enhanced by G's, another one of Toyota's Japan-centric performance lines. There's an Elegance version of the Harrier – similar to the Lexus RX we get Stateside – with a sports suspension dropped by 1.4 inches, upgraded brakes, an aggressively restyled front end and an enhanced interior. Alongside it Toyota has revealed a version of the tall-roofed Prius Alpha (which we know as the Prius V) with a similarly upgraded suspension, refreshed front end styling and interior with sports seats and silver-stitched black interior. All three models are slated to debut at the 2015 Tokyo Auto Salon - Japan's equivalent of the SEMA show - next month at the Makuhari Messe in Chiba. Featured Gallery Toyota at 2015 Tokyo Auto Salon View 18 Photos News Source: Toyota Aftermarket Green Tokyo Auto Salon Toyota JDM toyota prius v

Toyota reports huge quarterly profit increase, raises forecast for the year

Toyota isn't just the world's largest automaker - so far its the biggest winner for quarterly profits. With an enormous $5.5 billion take during Q2, Toyota took advantage of the weak Japanese yen and strong US demand to record a 94-percent improvement in profit over the same period from last year. So far, Toyota brought in larger profits than Ford and General Motors combined.
Toyota is showing no signs of slowing down either, as it has bumped up its forecast for full-year global production, going from 9.94 million to 10.12 million vehicles, on the back of a 13-percent drop in the buying power of the Japanese yen versus the US dollar. That strong exchange rate is largely responsible for Toyota's big jump in profits, although it also managed to shift 1.3 million vehicles in the US market this year. Strong Camry sales have also helped. But while Toyota is raking in the cash, it actually saw a small drop in market share, down 0.1 percent to 14.3 percent of the US market.
As is the case with most automakers, Toyota seems flummoxed by Europe, where it recorded less than one percent of its revenue. Still, as Automotive News points out, Toyota only maintains a 4.5-percent market share in Europe and is far less dependent on the continent than other manufacturers. Toyota also struggled at home, much like Honda. With 525,777 units sold, JDM sales were down almost 51,000 units, although Toyota still saw its operating profit jump from $3.5 billion to $4.6 billion.