Reported 4 months ago
Toyota, known for its successful emphasis on hybrid vehicles over electric ones, is now planning to develop smaller internal combustion engines optimized for hybrid cars that can use alternative fuels like biofuels. The move is part of Toyota's strategy to cut emissions and offer diverse options for carbon neutrality in the face of a decarbonization effort. Despite the trend towards electric vehicles, Toyota believes there is still potential for improved combustion engines. Formerly criticized for its stance on EVs, Toyota's hybrid approach is proving successful as global EV sales stall, with the company's shares rising 20% since January and its net profit guidance reaching a record $30.3 billion in February.
Source: YAHOO