Photo: Toyota USA
The automotive success story of the current moment appears to be Tesla surpassing $1 trillion in market capitalization this week. But right on the heels of that story, largely underneath our noses, Toyota chalked up a financial win of their own. Doing so by cracking a top ten spot on Fortune Magazine’s Global 500 list.
Before 2021, Toyota had hovered painstakingly close to a spot in the upper echelon of the most successful companies of our times, achieving spots as high as the tenth place on the list based on total revenue. Now, with the latest announcements of new figures by Fortune Magazine, Toyota finds itself firmly in the ninth-place position, cementing its status among the highest profiting companies in any sector in the world.
This top ten status comes soon after the announcement that Toyota had raked in revenue of $256.7. Placing it number one overall in the world compared to other global automakers like GM, Volkswagen, and Honda.
“Toyota is honored to be included on this year’s Global 500 List,” said Ted Ogawa, president, and CEO of Toyota Motor North America. “This acknowledgment is a reflection of our global team and the great work that they do each and every day to provide mobility for all.”
With the global auto industry rapidly turning away from fossil fuel-based propulsion, Toyota’s industry-leading research in fields like hydrogen fuel cells, sustainable electric batteries, and hybrid vehicle technology has seen the Japanese automaker stay one step ahead of the competition in eco-friendly technology fields that will make or break auto brands in the near future.
With plans to construct a new $1 billion production facility with the express purpose of manufacturing batteries for electric vehicles, it appears that Toyota is ready to invest its newfound revenue wisely. In a manner that will cement its dominance over the hybrid and PHEV markets for years to come if all goes according to plans.
This top ten status comes soon after the announcement that Toyota had raked in revenue of $256.7. Placing it number one overall in the world compared to other global automakers like GM, Volkswagen, and Honda.
“Toyota is honored to be included on this year’s Global 500 List,” said Ted Ogawa, president, and CEO of Toyota Motor North America. “This acknowledgment is a reflection of our global team and the great work that they do each and every day to provide mobility for all.”
With the global auto industry rapidly turning away from fossil fuel-based propulsion, Toyota’s industry-leading research in fields like hydrogen fuel cells, sustainable electric batteries, and hybrid vehicle technology has seen the Japanese automaker stay one step ahead of the competition in eco-friendly technology fields that will make or break auto brands in the near future.
With plans to construct a new $1 billion production facility with the express purpose of manufacturing batteries for electric vehicles, it appears that Toyota is ready to invest its newfound revenue wisely. In a manner that will cement its dominance over the hybrid and PHEV markets for years to come if all goes according to plans.
Google News