Toyota took a major step in April with the announcement of a new line of battery electric vehicles (BEV), starting with the bZ4X compact crossover that could debut as early as next year. Even though Toyota helped sensitize car owners to fuel efficiency with the hybrid Prius, it has long pushed hydrogen fuel cell cars like its Mirai as a better zero-emission alternative than BEVs. But by collaborating with partner Subaru on the development of its own BEV lines, with 15 Toyota Group models due by 2025, Toyota has finally moved past its big bet on fuel cells. Investors are likely to welcome the move, given Toyota’s hydrogen solution failed to catch on outside Japan. For the fiscal year ending in March, Toyota has forecast a 14% increase in operating profit and revenue near record levels at 30 trillion yen.
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