• Toyota, the world’s largest carmaker, is celebrating a historic high in global production for 2023, reaching a record 9.23 million vehicles from January to November. This achievement, defying earlier criticisms of its electric vehicle strategy, is fueled by robust sales of hybrids, offsetting a slow EV rollout. The broader Japanese group, including Hino Motors and Daihatsu Motor, also anticipates becoming the top-selling global carmaker for the fourth consecutive year with a 7% increase in global sales to 10.2 million vehicles. However, in the Chinese market, Toyota faced a 2% drop in sales, reflecting the ongoing transition to electric vehicles.

• Despite Toyota's commitment to selling 3.5 million battery-powered vehicles annually by 2030, this year's sales show a different picture, with only 95,220 pure EVs sold compared to 3.2 million petrol-electric hybrids and plug-in hybrids. The company aims for a "multi-pathway approach," catering to diverse global markets where EVs may not be affordable for some time. As Toyota outlines its EV strategy amid growing competition, the company remains optimistic about hybrids as a viable alternative during the transition period to widespread EV adoption. In response to the achievement, Toyota shares rose nearly 2% after facing declines related to a recent scandal at subsidiary Daihatsu.