Toyota meets ‘aggressive’ Apac entry of China carmakers with more EVs – and combustion engines
In a ‘multi-pathway strategy’, the Japanese automotive giant continues to offer conventional and hybrid cars in the region
Add BT as a preferred source
[SINGAPORE] Facing fierce regional competition from Chinese carmakers, Japanese automotive giant Toyota is banking on a strategy of continuing to offer combustion engine cars alongside ramped-up electric vehicle (EV) launches.
Offering this range allows the company to adapt to each of its markets, said Toyota Motor Asia vice-president Preston Tan in an interview with The Business Times.
“What we are seeing here is the aggressiveness of Chinese (carmakers)... Previously, we thought South Korean carmakers were our so-called competitors, but the Chinese are more aggressive than them.”
TRENDING NOW
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
