Toyota’s Hybrid-First Strategy Is Delivering Big Profits
Toyota, the world’s largest automaker, has been criticized for selling few electric vehicles, but its decision to focus on hybrids is paying off financially.
In today’s high-tech, high-stakes auto industry, fortunes can change quickly, and there’s no better example of that right now than Toyota Motor.
Not long ago, it looked as if Toyota had fallen dangerously behind in electric vehicles. Seeing EV automakers’ success, other companies, such as General Motors and Ford Motor, concluded that large numbers of consumers were poised to switch to battery-powered cars and trucks and began investing tens of billions of dollars to catch up.
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