Toyota plans to invest 1.7 trillion yen in electric vehicles and AI over the next three years

Toyota Motor Corporation announced that it will invest 1.7 trillion yen (about 79.05 billion yuan) in fiscal year 2024 (ending March 2025), mainly for the development of pure electric vehicles and AI technology. This investment amount has increased by 40% over previous years. Toyota said it will increase investment in future technologies to ensure the company's leading position in the automotive industry.