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Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

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Vanke reports annual loss of $6.8 bn

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Toyota to invest US$2.2bn in Brazil

Toyota's competitors have also recently announced major investments in Latin America's biggest economy. AFP
  • The automaker will make two "flex hybrid" models in Brazil -- using either petrol or ethanol as well as batteries -- creating around 2,000 jobs
  • Japan's automakers, in spite of the boom in electric cars, have relied on hybrid vehicles that combine internal combustion engines and batteries

Tokyo, Japan–Japanese auto giant Toyota said Wednesday that it plans to invest 11 billion reais ($2.2 billion) in beefing up production of hybrid vehicles in Brazil through 2030.

Despite the boom in electric cars, Japan’s automakers have long banked on hybrid vehicles that combine internal combustion engines and batteries.

Toyota plans to make two “flex hybrid” models in Brazil — using either petrol or ethanol as well as batteries — creating around 2,000 jobs, a statement said.

Dressed in traditional Japanese garb, Brazilian Vice President Geraldo Alckmin posted a thank you message on social media platform X that featured Mount Fuji and Japanese characters from Pokemon and manga comics.

“Another important step in the Brazilian economy. Private companies are back investing in Brazil’s future,” President Luiz Inacio Lula da Silva added on X.

Toyota’s competitors have also recently announced major investments in Latin America’s biggest economy including General Motors, Volkswagen and South Korea’s Hyundai.