Toyota posts new record high, thanks shareholders for support
Shares of Toyota Motor Corp reached a record high on Wednesday, prompting the company’s president to give a rare message of thanks during t its annual general meeting.
Japan’s leading automaker breached a share price of 10,000 yen ($90.84) on Tuesday for the first time, as investors welcomed Toyota’s strong sales, electric plans as well as ability to tackle a global chip shortage better than the competitors.
Toyota’s shares hit 10,330 yen on Wednesday, a record high, valuing the company at more than $301 billion. Tesla, the top electronic car producer in the U.S., is currently valued almost twice that by investors at $577.38 billion.
Toyota shares closed almost 1% higher at 10,175 yen.
Toyota has said it will increase its number of electric models to around 70 from currently offered 55 by 2025 while aiming to make all its global factories carbon neutral by 2035.
According to Toyoda, Japan’s top automaker needs to bring in multiple viewpoints and values as a driving force of creating innovation as it looks to fully redesign itself to a mobility company.