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Japanese automakers kick in $800k for new charging-station company

Cynics may say that gathering $800,000 (total) from four of Japan's largest automakers is merely a rounding error. Still, Toyota, Nissan, Honda and Mitsubishi, along with the Development Bank of Japan, are putting those funds to good use. So, that's something. Last week, those five entities officially founded Nippon Charge Service LLC. The company was established to promote plug-in vehicle charging installations across Japan and the automakers seeded it with 80 million yen, or about $786,000 US. Those funds will be used to help business owners deploy charging stations at convenience stores, highway-side locales and other locations that will make it easier for plug-in vehicle drivers (of Toyotas, Hondas, Mitsubishis and Nissans, obviously) to get their juice. The automakers first announced they'd collaborate last year, when they said they'd work with the Japanese government to more than triple the country's publicly accessible chargers to about 17,000 units. No targets were disclosed as far as how many charging stations would be deployed this time out, but, in a move similar to the EZ Charge system in the US, Nippon Charge Service will also have universally-accepted charging cards available by the end of the year to drivers all of those brands' plug-in vehicles to make the charging process a little more seamless. Check out Honda's press release below. Japan Automakers Advance Electric Charging Infrastructure with New Company, Nippon Charge Service -Established to help build charging infrastructure for electric-powered vehicles (PHVs, PHEVs and EVs)- Toyota Motor Corporation Nissan Motor Co., Ltd. Honda Motor Co., Ltd. Mitsubishi Motors Corporation Development Bank of Japan Inc. TOKYO, Japan, May 30, 2014 - Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation jointly established a new company, Nippon Charge Service, LLC, on May 26 to promote the installation of chargers for electric-powered vehicles (PHVs, PHEVs, EVs). The goal is to help build a charging network that offers more convenience to drivers in Japan. The new company will promote the installation of chargers, for the good of society and to expand the use of electric-powered vehicles. Related industries are also expected to benefit. Development Bank of Japan Inc.

Toyota outpaces Detroit rivals in profitability per vehicle

As the world's highest volume automaker in 2014, you would probably expect Toyota to project a healthy financial outlook for the end of its fiscal year on March 31. But thanks in large part to the weak value of the yen and a large number of export vehicles, the automaker could make about four times more than General Motors, despite selling just a few hundred thousand more cars than its Detroit competitor last year. Toyota forecasts the equivalent of $24.5 billion in earnings for the fiscal year, compared to $6.5 billion from GM in 2014. According to an analysis by The Detroit News, the Japanese automaker is expecting average earnings of $2,726 on each vehicle it sells, versus $994 from Ford and $654 from GM. The key to this massive success has less to do with Toyota's products and much more in the company's location. The yen's value to the dollar is at its lowest point in decades. Also, according to The News, the automaker exports about 45 percent of its Japan-assembled vehicles, meaning bigger profits in the conversion to foreign currencies. Coupled with strong demand in the US, and the business looks even better. Automakers in the US are peeved by Toyota's currency-based boost. According to The News, there are allegations of manipulation of the yen's value, and Ford president of the Americas Joe Hinrichs calls the problem the "major trade barrier of the 21st century." He thinks the Japanese companies are making about $2,000 per exported vehicle due to the conversion. Intriguingly, it wasn't that long ago when Japanese automakers were moving operations from the country due to the strong value of the yen to the dollar curtailing profits. Infiniti shifted production, and there were fears that Toyota might close some of its factories, as well. Related Video: News Source: The Detroit NewsImage Credit: Shizuo Kambayashim / AP Photo Earnings/Financials Plants/Manufacturing Toyota toyota earnings toyota profit

2017 Toyota 86: The car so nice it's been rebadged twice

When the dust settles and the Scion brand is no more, the car we currently know as the Scion FR-S will be rebadged. Again. If you remember the excitement that surrounded the Toyobaru/Subota rear-drive sports coupes' introduction, you'll recall that Scion's Subaru BRZ twin landed in here as the FR-S. That car, along with the new iA and iM, will get a stay of execution next year when the brand bids adieu. We know it will wear a Toyota badge in dealers from then on, and there's a good chance it will get the 86 badge European models wear. Toyota's version of the car goes by several different names depending on the market. It's only a Scion in North America, while it's sold as the Toyota 86 (in Asia, Australia, New Zealand, South America, and South Africa), Toyota GT86 (in Europe and New Zealand again), and Toyota FT86 (in Nicaragua and Jamaica). The 86 part of the name is a nod to the rear-drive AE86 Corollas of the 1980s. That's a history lesson Toyota likely won't have to teach its core demographic. Then again, this car's core demographic probably already bought one. There's also a possibility that this car will get yet another name combination: Toyota FR-S. For the sake of simplicity, let's hope not. View 7 Photos So yes, the rebadged 86 will be re-rebadged back to a Toyota. Functionally this means almost nothing. Buyers who were ordering badge-swap kits from overseas will save some money. Some enthusiast forums might need to change their names. And people visiting from Japan or Europe will feel a little more at home when they see a rear-drive Toyota sports car on the street. Meanwhile, FR-S – a name that may or may not have stood for "front-engine, rear-drive, sport" – will be quickly forgotten. Related Video: Scion Toyota confirmed toyota 86