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Toyota shares fall over 2% after criticism from green activist investors

Published 06/12/2022, 08:17 PM
Updated 06/13/2022, 06:08 AM
© Reuters. FILE PHOTO: The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song/File Photo

TOKYO (Reuters) - Shares of Toyota Motor (NYSE:TM) Corp opened down more than 2% on Monday after media reports citing criticism from European pension funds of the automaker for what they said were lobbying efforts that went against climate regulation for the industry.

Toyota, the world' top automaker, is holding its annual shareholders meeting on Wednesday.

Latest comments

When Michael Moore says Green Energy is not Green, DIVE HORNS should be going off !
A climate agenda revolution is going to happen if the poweres that be dont stop shoving this down our throats particularly when it is devastating our economy, this includes you misleading Reuters reporters.
IMHO Toyota has to fall because its not very smart CEO completely missed the electric vehicle boom. Please do not think I am saying this because I am a Tesla fan. I think Tesla is very overvalued. But the Chinese will do to Toyota and others what Toyota and the other Japanese OEMs did to GM and Ford. Of course Tesla will also feast on the body of Toyota and Honda, but it also will suffer.
"Missed" isn't quite right. Toyota knew about the problem and came to a different conclusion. For the foreseeable future, battery and Hydrogen power are not the answer. The grid isn't close to supporting cars yet.
Nobody sells more electrified cars than Toyota. They don't offer many BEV models (only CH-R/Izoa in China, Lexus UXe and now starting BZ4x worldwide) but they have HEV, PHEV, Mirai (hydrogen) selling worldwide. They know their way very well: there's no point to offer now an electric Yaris for the price of an hybrid Corolla or a BEV Corolla pricier than a Camry or RAV4 (and with a lower practical range, nobody wants to wait 30' in the charging station to be able to resume a long journey). People aren't stupid and will not buy it. It's a tough balance between keep selling about 10 Million car/year and develop the next generation of batteries and support the creation of an hydrogen supply network. Tesla Semi is still on the paper but there are Toyota Hydrogen Buses and Trucks already in service and final developing tests. All this is extremely expensive and requires huge know how, no way any newborn Chinese company will destroy well established and profitable automotive companies.
Correlation != CAUSATION.  Stuff is falling regardless... some loud mouthed greens do not mean jack for the share price.
Not the greens, the pension funds
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