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Toyota's shares reached a 16-month high as shareholders endorsed the board and new EV strategy, retaining Akio Toyoda as chairman. Proposals for increased climate lobbying disclosures were rejected. Toyota plans to launch battery electric vehicles with "next generation" batteries by 2026, aiming to sell 3.5M all-electric cars annually by 2030.
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Lotus is testing its Evija X prototype, a hardcore version of the Evija road car, on multiple racetracks. With a quad-motor electric powertrain boasting over 2000 horsepower, this all-new technology concept is speculated to be Lotus' attempt to set a new record on the Nürburgring. The vehicle, featuring an advanced aerodynamic package, may herald a future electric race car or a limited edition track-only Evija X.
Volkswagen aims to realize $10.83B in savings and cost-cutting measures by 2026 to reach a return on sales target of 6.5%. The carmaker teases the possibility of an electric revival of its iconic Beetle model. CFO Arno Antlitz highlighted a focus on profitability, cash flow, production efficiency, and product range streamlining across brands, including Volkswagen, CUPRA, Skoda, and SEAT.
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Ford has opened its Cologne Electric Vehicle Center in Germany, an essential step in its goal to make all passenger vehicles in Europe electric by 2030. The renovated plant, funded by a $2B investment, will produce Ford's new all-electric Explorer and a sports crossover, with a capacity of 250,000 annual EVs. Ford aims to sell over 600,000 EVs in Europe and 2 million globally annually by 2026.