Toyota's stock is having its best week since 2009 following the company disclosing plans for its next-gen EVs and shareholders voting in favor of its board.
, including vehicles with highly touted "solid-state batteries" by 2027 or 2028.
People arrive to attend an annual shareholders' meeting for Toyota Motor in the city of Toyota, Aichi Prefecture on June 14, 2023. Toyota is under pressure from large institutional investors for chairman Akio Toyoda to step down over his lukewarm embrace of electric vehicles.Takero Kato, president of BEV Factory, said that Toyota is targeting a driving range of 1,000 kilometers for its EVs. BEV Factory aims to produce about 1.7 million vehicles by 2030, he said.
Following the announcements, Toyota shareholders Wednesday aligned their voting with company recommendations,and voting down a shareholder proposal requiring Toyota to review its climate-related lobbying activities.
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