12/4/2023, 3:46 AM (Source: TeleTrader)
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Toyota considering investments in UK

Toyota Motor Corp. is considering two investments in the United Kingdom, Matt Harrison, head of operations for Toyota in Europe, told the Financial Times.

After the UK government delayed a ban on the sale of new hybrid cars until 2035, Harrison explained that the carmaker is currently considering investing in a new model at its Derbyshire car plant, alongside the mass manufacturing of hydrogen fuel cells.

"We are not facing any premature discontinuation or ban of hybrid [technology], and there’s a little bit more pragmatism," Harrison said, adding that the government's decision helps Toyota "remain competitive." Although the company is currently big on hybrid vehicles, the senior executive noted that there will be "a tipping point . . . around 2027, where our center of gravity will start to shift" toward electric vehicles.

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