Toyota (TM) Unveils New Mobility Services & Concept Vehicles

Toyota Motor Corporation (NYSE:TM) has announced new e-Palette Alliance and e-Palette Concept Vehicle programs. These programs are aimed at meeting the growing demand of multi-faceted transportation and business applications. This announcement is in line with the company’s focus on sustainable mobility. Moreover, this reveals sustained efforts put forward by the Japanese automaker for creating new values and services for the customers which is beyond traditional cars and trucks.

The new e-Palette Alliance will utilize Toyota’s proprietary Mobility Services Platform (MSPF) to develop a set of related mobility solutions and a flexible, purpose-built vehicle. The new idea will build an ecosystem of hardware and software support intended to help companies utilize advanced mobility technology in order to cater to the needs of the customers in a better way.

The open vehicle control interface and a set of software tools of e-Palette Concept Vehicle allow partner companies to install their own automated driving system and management technology. When automated driving system of a partner company is installed, Toyota’s Guardian technology will act as a safety net to ensure appropriate operation.

As a whole, the e-Palette Alliance and e-Palette Concept Vehicle highlights Toyota’s sustained efforts in developing and delivering new connected mobility businesses and data services through Toyota Connected, the company’s data analysis and services subsidiary.

The company has underperformed the industry it belongs to in the last three months. Its shares have gained 10.8% compared with the industry’s growth of 12.7 %.



Toyota currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

A few other top-ranked automobile stocks in the same space are Allison Transmission Holdings, Inc. (NYSE:ALSN) , Denso Corp. (OTC:DNZOY) and Lear Corporation (NYSE:LEA) , each carrying a Zacks Rank #2.

Allison Transmission has a long-term growth rate of 10%. The company’s shares have gained 36.4% in the past 12 months.

Denso has a long-term growth rate of 10.1%. The company’s shares have gained 43.4% in the past 12 months.

Lear Corporation has a long-term growth rate of 7.1%. The company’s shares have gained 39.3% in the past 12 months.

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Toyota Motor Corp Ltd Ord (TM): Free Stock Analysis Report

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