Full Year 2021 Toyota Motor Corp Earnings Press Conference - Part 2

May 12, 2021

With vehicles battery electric vehicles plug in hybrid electric vehicles, and hydrogen fuel cell electric vehicles.

The success of the Prius demonstrated that our commitment to carbon neutrality had also created a once in a generation opportunity for innovation and market leadership and today.

<unk> offers the worlds largest lineup of 55 practical reliable and affordable electrified vehicles all over the world with many more to come.

Our combined sales volume of electrified vehicles, including Hev's be Evs ph Evs and F. C. V's is now more than 2 million vehicles per year.

The Atkinson cycle engines, and our a T v's and ph Evs are extraordinarily efficient up around 40%.

These efficiency improvements have helped to reduce emissions in many parts of the world.

Particularly those with less green power infrastructure.

The net positive impact of Toyota is innovations enabled and estimated reduction in total cumulative carbon emissions of approximately 140 million tons and over 20 years.

This is equivalent to removing $1 5 million typical passenger vehicles from our world's roads every year over that time period.

We are proud of these achievements, but we know we can and we must do better.

That is why we are rapidly introducing 15 battery electric vehicle models globally by 2025, including seven recently announced Toyota BZ models.

We are also expanding and improving our product lineup of Hev's ph Evs and FC Evs.

To support all of these new products Toyota will continue to make global investments and exciting new battery technology, such as solid state batteries.

Along with more efficient electric motors. These new batteries will help make evs more practical safer and more sustainable.

Total believes the world can achieve carbon neutrality, but there are still many challenges to realizing our dream.

Even with perfect battery technology, a b E V will still generate tons of cotwo issues over its lifetime. If it is charged by electricity produced by coal or other non renewable energy sources.

Another challenge is that not everyone has convenient access to charging infrastructure.

One of them.

I live in an apartment building and Tokyo and have no ability to plug in a vehicle.

Fortunately Toyota can offer me additional choices.

For example, ph evs offer flexibility and can be built with smaller batteries using fewer materials.

<unk> can be driven and zero emissions electric mode optimized for the short trips that make up most of the world's driving.

As well as providing a hybrid mode for longer trips.

In addition, Toyota continues to aggressively invest and complementary new Green energy technologies aimed at achieving carbon neutrality.

Toyota is the world leader in hydrogen fuel cell technology.

Hydrogen is the most abundant element in the universe and can be produced locally at the point of views with nothing but renewable energy and water.

Hydrogen can also provide long term storage of renewable energy for use during peak times.

After more than 20 years of research and development in 2014, Toyota launched them you're right. Our first mass produced hydrogen fuel cell electric vehicle, which won the world Green car of the year Award in 2016.

Fuel cell technology is truly magical.

As the vehicle moves are from the outside combines with hydrogen in the fuel cell to produce electricity and water.

A pure and simple zero emissions vehicle that can be refueled in three minutes.

Our second generation Miro was announced last December.

We improved performance comfort and efficiency, increasing EPA range to 647 kilometers or 402 miles.

Despite these improvements hydrogen energy still faces many challenges related to available infrastructure overall efficiency and enabling low cost clean hydrogen production.

Toyota will continue to invest and technology to overcome these challenges.

Moreover, passenger cars are only a small part of hydrogen and future potential.

Toyota is hydrogen fuel cell technology could help to clean up a large percentage of the world's entire transportation ecosystem.

That means achieving carbon neutrality and trucks and heavy transport trains buses taxis aviation shipping forklifts and industrial processes, all of whose combined C. O two emissions exceed those of passenger cars.

Toyota has also developed modular fuel cells and a standalone fuel cell generator that can be repositioned to produce electricity anywhere on demand.

For example, you can use Toyota standalone fuel cell generator to quickly deploy a charging station for our BV or ph EV.

But cleaning up new vehicle sales is just the beginning.

There are more than 1.4 billion vehicles and the world today and most of them have internal combustion engines.

Toyota is exploring possible ways to clean up the world's legacy fleet of Ice's vehicles that will still be and operation. During the next 10 to 15 years.

Hydrogen fuel can also be burned as a cleaner fuel.

Just last month Toyota demonstrated a new hydrogen engine prototype that could expand the options for achieving carbon neutrality faster.

In the World of Motorsports, where the development speed of new technology as rapid President and Toyota who is a master driver himself takes the wheel and repeatedly evaluates these vehicles and technology progress.

Toyota is work on making ever better cars. Now also has the potential to enable more environmentally friendly motorsports.

And everything we do Toyota is and has always been firmly committed to carbon neutrality.

Toyota has the world's largest and rapidly expanding lineup of electrified vehicles, consisting of B E vs. Hev's ph Evs and FC Evs.

Because of our unique history of working with electrification for nearly 25 years.

Toyota is technology is world class and strongly positioned to help different countries around the world reduce emissions and achieve carbon neutrality faster.

This was all done before mandated rules by governments or the recent global movement and growing awareness of the need for carbon neutrality.

Giving back to the world and having a clean future is in our Toyota DNA.

We are very excited about the future of electrified mobility and the tremendous new products and business opportunities that the green economy will create as we make progress towards achieving our goal of carbon neutrality.

However, no single company, including Toyota can.

Can accomplish this go alone.

All industries must work together to develop new technology and infrastructure and.

And cooperation with scientists and academia as well as local and national governments.

This is the challenge that we are excited about facing because it will not only lead to better products, but also help protect our precious planet at the same time.

We would like to be a trusted partner to build the best products suitable for people in every part of the world to achieve carbon neutrality faster with Toyota is brand representing quality reliability and low cost and long lasting value.

Toyota is 100% committed to the global goal of achieving carbon neutrality by 2050.

And as a result, our brighter happier future for us all.

Thank you very much.

Today and Iot.

Ladies and gentlemen, I would like to start the Q&A session and if they have a credit.

Please click on revenue.

And the screen and when your name is a forward sales will talk about.

And I would like to request you ask no more and answer questions and Nevada.

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And so you can see here the sales on the screen and please start your question.

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Hello can you hear me okay.

Yes again.

Thank you so much for the opportunity today and I have one question for Mr. James cautionary about electrification of vehicles and it seems that theres kind of two camps, one and evaluating tireless pursuit of electric vehicles and one that looks at Toyota is kind of behind the pack and developing battery electric vehicles and another that looked at.

The recent announcement of the BZ electric vehicle plan as Toyota finally announcing the plans.

Plants that it had been building for quite a long time, so not necessarily behind the pack I wanted to ask James where do you see Toyota standing compared to rivals in regard to the development of specifically battery electric vehicles, I know Toyota has a quite a strength and hybrid vehicles.

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Our goal.

Thank you very much for your question I'll make a brief comment and then I'd like to invite our CTO Mr Mehta to a follow up.

One of the reason for that I spent some time to explain the history of electrification is that a lot of people don't actually realize that Toyota developed electric vehicles over 20 years ago, and we've learned a lot.

It requires a lot of innovation and development and engines and motors and power electronics. All of these things that are needed in order to build a practical electric vehicle and electrify.

Transportation and mobility and Toyota is always listening to customers always trying to develop products that are suitable for every part of the world and we have to remember that the goal is not electric vehicles for goal is carbon neutrality and if and if we have the best technology, if its not chose.

And by customers it will not have the impact of reducing admissions and that's the reason why we've chosen to have a full lineup and we've invested and all of these technologies, but make no mistake. Toyota is really excited and I believe were strongly positioned to lead the world and the best reliable low cost.

Electric vehicles as you know producing batteries has a lot of challenges and we're trying to overcome them as well as the rest of the industry related to infrastructure, but we should also not forget that.

Mining some other rare elements that are needed to produce today's batteries, whether it's lithium or cobalt and nickel. These things are also producing admissions. So we have to find a good balance and that's what Toyota is committed to we've reduced the size, we've increased power output and we've made incredible <unk>.

Innovations in performance and safety of battery technology, and we were doing that with 25 years of experience of building cars that are electrified and like I said, we're now selling over 2 million electrified vehicles per year. So I feel very confident that we can continue to lead the industry and changing and producing products that are chosen.

And by customers all over the world that will deliver clean energy and clean transportation.

I'd like to ask maybe CTO might assigned to follow up.

Yeah.

And I'll tell you because I know hydro nothing that it's also a much better three months ahead and wait for the interpretation to from.

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So there are I don't know what us and the whole kind of this social and goodness and from my side, Let me add some comment on all government on and I'm almost as much as and Dr. Carson and launching delivery and worked with the law for carbon neutral and you look at the North and battery solution for you.

Is.

One you are way to realize carbon neutral.

Ladies and cause all one way or realizing a carbon neutral and purpose.

And Oh electrification and then so to give them how can we achieve carbon neutral still there's no hurry at Toyota I, just don't want and what we see with environmental and technology.

It's not worth it.

And why they must go through hiring and neutralize for any safety or in China by.

2016, and other numbers that we are hearing, but Miami, Florida and are we developing the first graders and eat and at that time, We think science and technology is only going to do it and it is widely spread.

Christian is how can we make technology widespread uncle.

Well look I don't know you don't have to stop there because your child being translated simultaneously.

So the OIBDA on a SKU that you don't have a free muscle and.

How can you make technology in July late July for your model.

And for the customer is important as Lou mentioned annualized one zone.

And you want to leave and a la.

Vehicles is that for me for tariff will have to be practical for other customers. You don't know give somebody that share worldwide and there are many types of kind of similar and I see none of our golf courses and on a day to day basis.

And that sounds simple, who simply used vehicles and I understand.

For sort of commentary and it may sound like an excessive kayla and button.

For example.

Haynesville and a longtime and say, though suitable for some of them all.

Global code by here.

And I don't know and in the southern Hemisphere.

Go into them.

And so and drive our ROE and somebody has to go back and vehicles and driven Zynga historically and you know Toyota even before the days of electrification.

And just a question and I'll find it.

And as a result, we've created for clients for a lineup of lava and accident. We had there and then goes from U S carbon neutral struggling need for her and I guess.

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From Dorothy.

Oh studio you always for the tailings.

So what kind of things like hybrid.

And so I thought I'd, almost say today and sort it out a lot of micro same hydro rather muscatine into and cause that is for that.

And for sales.

And your answer in the future.

And I feel good about tightening will come from art and even though.

Patients at any day.

The higher day rate performance center and they see that.

Or could it digital for convenience without doing so and that's what it is.

And if batteries alongside her scope.

And the pendulum swung from.

Oh, absolutely language vehicles, and they're only adult growth indoors.

And any learnings from it.

And I can't even stronger.

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And provided by Toyota and Florida.

And when you think that is important and of course theyre going up.

And for electrified vehicles.

Your line up Jamie.

He was CEO and England.

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For violent seminal events and other.

And as you'll recall at an all day.

Ladies and gentlemen.

Similarly for Ireland for life.

And you might want to opine.

And quite frankly, and as we consider this very sawyer for any they have a third line.

And going from one user.

For some had expenses of.

And would like to continue to make efforts and so that we can realize a carbon neutral with electrification and thank you.

And maybe some I did have the other day Mercer and give US day. That's for your question he very much.

And it doesn't and they stopped so did about taking your question on email and let us move on to the next question.

And given all of them are Mr. Now don't look at it.

Please go ahead and grandmother.

And I'm going to see any great and sorry, if you didn't hear itself and the screen and that is to start a question.

And I'm Gonna and we'll keep you guys don't have Nokia now and my bench and Gulfstream.

And so.

Okay.

And then.

And as I'm out and what that says Ms. Douglas Simona strike and that could you start and please state your question.

Now do you get a free Lance a generalist thank you for that.

And now that the song.

To this day.

And Mr <unk>.

And you talked about electrification and moving towards that he said every line.

And the required and purchase.

At times more exactly.

And you're seeing currently.

The Bulldogs equals.

Moving down the battery, especially a day.

And I was all day battery protection income.

And if you have a cobalt and nickel included and that was mentioned earlier auto losses like your whole true, Okay, and say those raw materials are procured for the most part and China and probably you would lotteries.

And what about procuring and Japan or from Japan for Dow alone wouldn't be able to choose that you want to acquire and cooperation with the government and what has occurred and stages are the discussion with the government about.

And for government of those world raw materials for lottery.

One other question, which also relates to the battery free.

And you for that.

And those matter is good.

And so if and when are.

If you and all.

Leave unaddressed and it could take fire and proudly at all from click and costly if you try to control that.

Characteristics other batteries are taking to buy yourself and there's a balance of that and in terms of course competition amongst rivals and how are you.

Moving to maintain your cost competitiveness and trying to control the Combusted list of those batteries.

Thank you Mr. You cut off for a question, but the fact that first question and kind of them, however, there and stuff.

And protection of battery and.

And so.

Okay, and a CPU and a heck of a lot.

Oh God other C. P. L will respond for the first part of your question and final question relates to the safety of battery and also the balance of other cost and Mr. My Dusty ill respond to that question for Mr. Okada from Oklahoma.

Thank you for your question, Mr Languished ammonia per day.

And I meant to ask.

First of all not about filling a vote on a simple in terms of the procurement of raw materials for battery for adoption and Oh sorry.

Naturally as you pointed out and your question, we do have those concerns and.

Just those concerns countries and in relation to our batteries, we do have various partners.

We do have several other partners.

And work with us for battery and recreation, and we started making effort to listen to it and.

Sure the broker and lesser band or anything and as I mentioned, the collaboration and cooperation and where the government is required for the procurement of purpose and that requirement.

Batteries and that is a very important aspect and therefore for working with parts and there is one thing we are doing and also and we have a partner are working with us and when our subsidiary and the battery manufacturers. So we work with Panasonic for aim for sure.

And I'll go from government.

And Oh, Oh scary for us for a bathroom and Starwood and once we have more I'm sure the broker and at the raw materials and in terms of and procurement as well as Mr now and dimensions.

Production volume and they've got good day.

And all the way taking currently annually.

And in 'twenty.

And I E.

Right.

All right.

And then I know new cameras and nearly six day a production line for those batteries.

And ensure that volume for the past 20 years or so for hybrid and it's money that we produced a 17 million and hybrid vehicles and whatnot.

And the battery is required for hybrid electric vehicles and the capacity that was probably 30 times that that would have to be produced and the next day.

10 years or so so who serve you most as mentioned Eric pointed credit loss. In addition for ensuring the procurement of raw materials, and Magna and sure Benjamin and appropriate production and all that batteries as well they must ensure the supply is stable and steady supply of value for us just to take care of adobe's volume and relative.

The battery cell, we are working closely with simple.

For a number of partners and channels and of course that is very important and I thought okay.

And that's subsidiary and also produce and batteries and we have PPS and all.

And have it.

And it says that protects and there is flow through in house production and then the small kept that and starting with a small capacity again.

And starting with they are hungry for more basic unit and he talked about we are establishing and your production lines and preparing for that and the short lead time and repeating it that frequently.

Frequently and then please do it.

That's what we are trying and if those are facilities for manufacture and gets necessary and we are going to produce and manufacture and sell it for that central Southern states have films and I and let you share with you some slides as I mentioned earlier that day.

And 1997.

And you just hybrid vehicles and things with them.

Seven.

Protection and facilitates a hybrid motors and so.

And professional lines for batteries and so as soon as we are producing.

Hydrogen tank manufacturing Hickman sheet for those important takeaway from protection had great momentum.

Starting with our small and I'm glad secure and then.

And minimizing the required investing 90 retail and introducing a production line and have introduced and the short.

And so those are there for exactly has made over the years and mono.

Uh-huh youth and there's a lot of technology and scale that we have I came late in the other day.

Yes.

And it will be in line for the production for the ex.

You've got to defend that volume.

And anything electrification overall.

So within group and we have businesses after adjusting for that's a switch linked and mobilizing the capability.

And that the manufacturers and.

And to have the solid and robust structure for battery supply and for government.

On a marathon and <unk>.

Thank you all for them.

Speaking just from a lot of.

And 60, and Saturday and the cross sell.

And between the two if I caught up to the sits and no.

Let me start by speaking from a broader perspective and it wasn't a good it goes on the Arnold and survey from a internal sales or when you say battery performance and we'll get somebody from there's little took and you're probably talking about data and also batteries are seeing from the customers point of view well what does that go for.

Moving to the question reported Judy as you mentioned sort of got a cruising range for tube was Chicago for anymore.

Lovely casino and <unk>.

For your Asian performance, which will have an impact on used car prices. So some of the major factors for you'll need and to balance and we're not.

And the prospects are for using our product.

Kennedy and it wasn't anymore and the worst case, our batteries cash burn on a high fives and on you and your.

And making sure that that doesn't happen.

We have to strike a balance and you're just picking out isn't there and whatnot.

And technically and studio argued for suitable for example, if you want and she'd like to standard.

For volume how much are you and I got them right.

Power and can you accumulate user and that is energy density and all the concern and what is that performance and a deterioration in performance and changing.

E D dimer and sometimes.

And sometimes contracts.

And we should go to Congo.

And line up at all if not all of them.

And as importantly, Toyota and so forgive me on energy density and it's not always.

Priority for Us and I'll tell you what's the go to look them jobs that will be our approach that was taken off.

How do we witness increasing.

And one thing is for example, Taco medical per day.

And she will see the cultural range campaigns and as you know.

Of course, our engraving battery performance and is one of revenue margin.

And you can look at doing for them.

Heiko.

From power efficiency.

And you only do you think of your desk phones and he just said.

Or what else is another and reduce their energy needs arise.

And inside the vehicle can be really can't stomach for specialty hybrid vehicles for them.

And he has accumulated acknowledged.

And you remember the air ticketing and eat them for you as a reason.

And so intriguing and smaller.

Our efficiency well no need for reduction.

That is to be used for MTR, goudeau infusion and safety, all day and freezing our power efficiency and reducing bad analysts before it took us out and it isn't it.

Well I believe from a tall Stifel for Ken.

Ken and also.

And I came together and Hudson.

And that is what day of the Huston nooks almost standard over the years titles as these other countries.

Continuing to look at things from that perspective, and other customer most critical Mackay says to me now let me go into a little bit more of a detailed sudano or just line can have aside for teams.

Hey, Josh.

And then she got a custody fee.

No deterioration.

So for for Mcdonald's what.

Does that mean and I will be going into any detailed technical explanation and allowed us to do that and football for example.

For you to go how do you see it better and you know how to deal with if you want to squarely Idrive, where energy goes in and out frequently as you see on the left hand side and he.

And electrolyte and about our concentration will giraud folks here and there.

It accelerates and a deterioration and saturation and hybrid.

However, it is going up and that's all still took you out of this I think really developing and the hybrid vehicles, each day and it creating models.

This day.

And the launch of volume and you're right.

Current Toyota go through temperature Lindsay George how do they deteriorate, we did a lot of basic and my favorite menu non banks guy for flu.

This is what we call and model based development and kind of a single system and soon or so per day, we created a control system and by multiple are monitoring and doing that.

Battery and hybrid don't know Dawn, you, Eli and since introduction of hybrids and using this model and I don't get it still stays so you'll get your thought on your state of he interest and once you start to share the control technology and he must have two components.

And I really do it and our hybrid currently and those are all this massive and carry high free cash.

So Toyota and Daimler.

And in line.

Question.

No more for kick someone need for knowledge and there were no cash.

And no serious injuries and our customers.

And he was being used to safely and reliably and ours.

At the momentum.

So historically, we have accumulated and this kind of technology and chemistry and this is used for hybrid vehicles and this will be used and the teacher for battery he and she sees and that is our approach to technology and come up on our system. It just took a little of Ireland and key.

Net of details for that that's all from my side. Thank you very much.

Get us on that and not over there. Thank you very much Mr. Kidder and there was.

No the mistakes and next question.

And so did you ask for them or give them used to tell us a mountain and automotive.

Automotive news from them.

And of that what do you see maybe they wouldn't even dream. So when you see yourself on the screen. Please ask for.

Catherine.

And as a case of any size question and he had a Japanese translation and after the question.

Hum summer and a guy Smith.

Mr. HUS. Please.

Hi, Grainger at all and thank you for taking my question today.

And I speak in English please.

My question is a little bit about the battery ramp up that you have you have need this massive ramp up in terms of battery supply by 2030 can you tell us a little bit about your plans for building and sourcing.

And the electric vehicles and electric vehicle batteries in North America specifically.

And one other thing about the carbon neutral a policy Toyota has been talking a lot lately about this hydrogen and burning engines that youll demonstrate later this this this.

And this month at Fuji Speedway and also about E fuels. How seriously are you investing in these kind of technologies right now is that a real pathway forward to carbon neutrality or is that just kind of a buzzword or some kind of distraction right now from the from the main show and finally, and maybe just if I could.

Ask for an update on the.

The woven city.

When can we expect some new developments on that when will you announce who is living there.

Other kinds of and update you might have thank you.

Yeah.

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And with it.

Good day.

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The next day.

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Your line.

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Your line.

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Yeah.

Thank you very much for the first question with him on this.

So for me don't get it on a b and D.

E D and battery sourcing plan growth will.

And we'll be asking for.

And Michael will be answered by Mr cut off for a issue and and changing and semi EBITDA and for the move from Citi.

And the coughing and that will be asking the question.

Income from Google.

Thank you very much for your question Daniel.

Your first question for us up at a better and sourcing and North America is suitable for them all on interest.

And last one we briefly touched upon this but and growth.

And in each region.

And so it could be a holiday electrified vehicles will be for it.

Yes.

And as Susan.

And that plan is developed and of course, our batteries will be necessary and each region Kumar.

Oh My God.

And in each region, which vehicle or with powertrain will be necessary.

That's.

We'll have to be identified for dialogue with our customers and myself, if you will not be and batteries for necessary for that.

It's simple it's reduced within that region that will be enforced and pointing towards the future for COVID-19.

And I mentioned in North America and are the same approach will be applied to North America.

For North America, He's Astonishes day have vascular and to and depending on where you are in the line of states for customers preferential differ between East coast West Coast and central part.

So for similar preference infrastructure are different depending on the regions. So taking that into consideration for really supplying vehicles and likewise for batteries and easily hybrid and evs for these vehicles. So we will be sourcing and not the appropriate batteries and in order to do that so we will work.

And two partners and we May duty.

Free juice in them. So we haven't determined witness approach will be taken but for me will tell you. When you consider that some of that weekend for flight supply in a timely matter that is all from my side.

For sort of era of cement or some other new cancer. So for the second question, Let me answer.

On a carbon neutral and even because that's always the climate neutral and the hydrogen engine, if you will and.

And chemicals from Congress.

For a serious RV and investing in this area. So starting with the hydrogen engine model and authority as well and I don't know.

For two months ago. Thank you.

And the prison.

And dry mills.

And the endurance races. So of course, we are serious and below.

There's no way we are not serious hematologic.

And your mom loves it and and so I can almost as much as we mentioned for quite awhile.

Got you got those consumer convenience and its importance and of course, they're very soon.

And the way structures and.

And so the options for the customer.

And neutral shouldn't be limited.

And I was thinking and that is why we are developing various types of cars you know of.

Of course for pressure.

And it is participating in a race you and all the joint or Youll get from Oh, sorry, my driving and Louise.

Things are up by more customers and so and there's always carbon neutral solution and other companies' hydrogen and mainly Russia Asia and as you described and I think that way and I believe Oh.

And I don't know so we are serious about this and I got.

This was the only thing for.

And can be applied and to a large commercial vehicles for anything anymore. So all day long.

That may be possible and as Mr. Hanson.

But as you go there and the right.

And on Brazil.

Oh no no.

And I have a neutral for you is already commercialized its all based on your stomach. Okay. This is based on existing and technology.

And in the future to cream yogurt and give us some kids and combine that with high volume and you thought other anymore Gorgon indicative of all we will be able to contribute to clarify and monitor in saving energy.

Oh geez.

So far and the technologies that we ought to be available and can.

Can be combined or just this if I may regarding and callable and so that carbon neutral it does not leave us and going as far and consequently, what you don't know me say for a lineup.

And the attending the preferences and the way of using the vehicles and <unk>.

Other Manav you don't get me wrong.

To provide more.

And as I go to Manav I'll wide array of options.

And so for any income technologies, you can see that I can help.

We are very serious about it.

That is all.

Thank you Hans for your question and I'll take the question about woven city and it's been 16 months.

Since present, Toyota announced the woven city project at computer and consumer Electronics show in Las Vegas, and since then the team has been really hard at work.

And then.

Right.

Okay.

And.

Sure.

Yeah.

Thank you Linda.

Oh.

Uh huh.

Okay.

And despite the COVID-19, and we were able to complete the phase one designs and start the groundbreaking officially this year February 23rd and we are making continuous progress and we have launched also our website, where we've had.

Had several thousand inquiries.

And from companies and partners all over the world.

Yes.

Okay.

Yeah.

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Got it.

Yeah.

Okay.

And right now.

Yes.

Okay.

Right.

And you're right.

Right.

Sure.

Okay.

And we just announced a partnership with emails.

And to develop what we believe will be the most advanced city and hydrogen and.

And we believe that that is going to.

Accelerate our initiatives in order to understand how hydrogen and renewable energy can play a big part and smart cities of the future Wilbon cities goal is to become a living laboratory.

Of mobility for people goods and information.

And.

We are continually making updates.

Yes.

Okay.

Thank you.

Sure.

Okay.

Right.

Thank you.

Okay.

And.

Uh huh.

Okay.

And then.

So.

Yeah.

And again.

Okay.

And then.

Good day.

Okay.

At this point, we have plans to start inviting.

Companies to start working with US and we've also launched our website, where you can find continuous updates. So please stay tuned.

Yeah.

Okay.

Yeah.

Okay.

And Oh.

Sure.

And then.

Okay.

Yeah.

Okay.

And Europe.

Okay.

Woven city is going to be I think a very important part of accelerating our efforts as a company to become a mobility company powered by software and digitalization and really be a true world leader in this area there.

And there's so many issues were around urban development, whether its traffic or pollution sustainability and all of these efforts are connected whether it's carbon neutrality safe mobility.

We would like to accelerate the development of all of that and transform our company to a mobility company of the future through the woven city project.

Yeah.

Okay.

Right.

Okay.

Right.

Your line.

And then.

Yeah.

Okay.

Sure.

Okay.

Yeah.

Okay.

And then.

Great.

Okay.

And then.

And the woman.

Okay.

Yes.

Okay.

And this is just part of the larger transformation that we are embarking upon related to software first I didn't have time to talk about that today, but software first is a dramatic transformation and different way of designing products, where we design the software architectures before.

Assembling the product and designing the hardware and this is going to dramatically.

Improve our reusability of software across many many different forms of mobility and.

Reduce the development costs and accelerate the features that we can offer to our.

<unk> over time and this is not just for traditional passenger cars, but for all kinds of new connected mobility personal mobility.

Flying mobility and that is going to be something that I hope woven city can be up flagship project and help lead.

<unk> and accelerating that development.

Thank you.

Yeah.

Okay.

Oh.

And.

Okay.

Yeah.

And then.

Sure.

Okay.

In fact, and what hardly at all.

And in British Columbia, and have taken market share.

And it wasn't even one day.

Well the Eagle.

Good day.

And.

And for for men.

Uh huh.

Yes.

Uh huh.

Okay.

And just wanted to give a revenue.

For H exhibits.

His visit.

And it will be much better.

Moving forward.

Hum.

The digitalization and.

Of the software first that's happening in our company on our traditional engineering is all connected to the advanced digital technologies that we will deploy and develop and woven city. So I believe that they're all part of the strategy of leveraging advanced.

Digital technology, and connecting those to real products and getting real feedback and a real situation like woven city and that's always been our philosophy tried to test and listen to what customers are experiencing and build products that are produced human health and happiness.

And.

Okay.

Got it.

Okay.

And then.

Great.

Yes.

Okay.

Thank you.

And then.

And some oh, well they must stop.

None of us among other OTC think ahead, because there may be a further question, but what is the schedule and closing time and has approached so I would like to ask for the next person to be the final for any.

Questions from May I invite Ms. What is she metals and other second newspaper.

And then I guess in search of US and please start your question and that's one way.

For you.

For months or so can you hear me chip I'll speak and yes. We can hear you I know, it's gonna ask Martin and thank you for the opportunity for Chuck talk a little book to Bill do you expect and hope for small cells.

Thank you.

Corporate and station.

And you talked about the day next generation battery.

And Mr Nugget that Empire, and Glenn you talked about.

The importance of enhancing and that's why it doesn't matter it and technology developments could you elaborate on that and detail Mark and Georgia and Atmos This momentum.

For nothing.

How are you going to enhance the performance of battery by web and mobile chat.

And how are you going to bring that forward and produce those batteries is there and you called Crazy numbers day science and.

And can you also talk about the all solid state battery as well do have any day.

Okay.

And with timing or price.

Of other and realizing that the limits that kind of question.

Relates towards carbon neutrality and Mr question, and that's it for my age and ice cream.

For more being made and sooner and then and using existing and general band.

Talking about our carbon neutrality, and we tend to focus more on electrification.

Well, there's two day net development of engine technology, other gasoline, including and prevent them get them. Okay.

Figure is mixed.

Excuse me, Mr. Jay, but it's very difficult for us to hear your question and that's found in there for that.

Well, it's not really coming through so could you repeat your question once again.

And tell release or can you share me all right can you hear me all right.

And what it all and and I could you repeat your questions and congrats again.

And I see do we have so much noise and so they honestly, they're looking for if you get sick is louder and probably that will help from Kenya.

Can you hear me and us.

Well, we can't hear you I'm terribly sorry, Mr Chip assets.

Yeah.

And the spectra deep and battery technology earlier, it was mentioned that Uruguay for increase the pace of development and that was mentioned and part one.

And I would appreciate your elaborating on that more concrete day on that and.

How much are you going to bring that forward the development of Bachelor and definitely allergy and sportswear and a whole lot. So does it hasn't and that this money, it's been very difficult for us to receive your voice very difficult to share deter and your voice.

And I won't say and I took the squeeze the autonomous and Moshe Academy and we cannot hear you.

Can you hear me interest your buses.

Could you say, if it's less OCA and Kansas, you and me Alright, and I said right now we can hear you. If I asked you the question and I'm terribly sorry.

And all right.

And part one Mr and knock out that I'm talking about the development of battery technology and he said.

And there's going to enhance or accelerate the pace of battery technology development and more squishy and I would like to.

Share the details of that.

And so what did you get smarter and more crucial.

And to target zone.

And you have for battery technology, and how much are you going to bring that together.

And if I could go back before allowing for all your Andy and Guy and got it all.

If you.

Could talk about that and a more concrete and specific terms I would appreciate that very much went down and run. The second question also relates to carbon neutrality, and Russia, and you talked about making.

Internal combustion engine sales.

And talking about baton and talking about de carbonization and winter.

And they focus more on electrification technology, but with respect and the development of Amgen for Huntington's.

And based upon existing gasoline and Jim and maybe able to enhance a fair amount of fitness yoga and encouraging that aspect and how much investment cost are you expecting for and in development or investing.

And for other resources.

And on this engine technology, and you're not intending to reduce some of that.

I would like you to talk about your approach and concept of engine development and so these are my two questions.

The audio day. Thank you Mr. Chip out for your question, but you know so let me talk about that and the first question that is the day shortening.

And time lead times for natural technology, Worcester, and we've got I wont talk about that and.

And the second question that interest.

And the enhancement of our I C E or making any cleaner and Mr. Mehta will talk about that okay.

Mr. Chairman. Thank you for your question if you look at it.

Krish. This is D G suite and Archie starting with the park run and we haven't told you about battery and powertrain smell and ending it and moving towards 2030.

We are trying to accelerate that.

Yes.

The board and we are going to sit here and the necessary.

And we're doing that we will and hybrid vehicles and ph envy and Israel cool for from.

From a collection of customers and do support those.

Significant curtailments and therefore in terms of supply and.

Yeah.

And I'm very low and no vehicles, and and we do that day.

And we will continue to draw batteries for.

And then also F C.

We are.

Working on that and we accelerate further and so probably in the middle of the.

Scared between 'twenty, and 2020 surgery grew AUM evocative aiming at that.

Timeframe, and we intend to further U V or not and how that's our capabilities for batteries for Q4 B study and.

And the supply of that type of phenomenon and ensure the supply of those factories that we've developed so that we'll be able to achieve the goal that we set for ourselves for 'twenty and so that's what we're working on and earnings.

This momentum and Inspector day.

For all solid state batteries.

And the process of developing and landlord and Mr. Myers, and I will talk about that and.

Oh and supplement that and later on.

Well I can day.

And the process of dwarf meant we are trying to accelerate that.

Okay.

Well.

And neither will supplement that further.

Alright.

Yes, Mark.

For multifamily and including additional remarks from this sector is my first question and I would like to for the model.

And batteries and solid state batteries.

Developing raw materials for that.

Technologically speaking, we still have very high hurdle and I'm gonna to let's just hold on and go over and I won't be able to go into a great.

Great.

In terms of other raw materials that are being developed.

And the durability or not.

And you know this momentum specializing on the development effort and dedication of interest.

And the development of Robert you can notice right.

Durability requirements and Mr.

And not to mentioned earlier.

Paid for other battery devote and then legal time and they did.

And that leads to the short term.

And we have plenty.

Hello.

Okay.

Sadly lose clause achievement accomplished neutrality, and we talked about the importance of offering granted options and technology absolutely live.

A live and play right.

At the American and.

For Q3, and observe the vehicle and nothing graduate convenience.

That's great.

Okay, so given that uncertainty and customers' preference may change.

Uhm change and solutions.

And that and that's where we find ourselves and we'll try to capture those changes.

And tolerable wildly worked wonderfully.

And for gold.

Short term billings time for development for example, and I think they can go ahead.

And so I'm just wondering though.

And then for green compared with existing Toyota vehicles.

And for indications are rooting for them.

And we have shortened day lead time for developing and whereby IRA and thank you for men.

And focusing more on the battery this coming fall right and we're now working hard for that week and shorten lead times and it also and by another 10%.

That means there's likely no.

Okay.

For example.

And according to that.

Great.

And with that.

Net sorry from okay.

Net income and realize that and this is net.

Yeah, well I think there are two important and center as we go out there.

And you talked about earlier, the digitalization and importantly, the tip of my hand.

It was explained let's say from your battery and I ran it came together and do that.

Good day.

And we use a computer simulation.

It's religion and development.

And as we engage and development using computer simulations.

And none of the development environment itself is going to be digital and so.

Working with passengers came from.

Judah you need to have.

The Europa.

Alright.

And what keeps me for the sterilization and saw them.

So first of all for.

And then.

And that she.

Evaluation and good day, and that's really good that they keep at that Toyota has been accumulating over the years ago, and very important and the context of and digital.

Okay.

And so many different ways and years Bill working together and Jay.

And that drove other can be made.

And the case for digital day Goldman.

And number will be.

And so.

How do you for measuring throwing that take the newsroom line and that's the area where TPS concept for sure.

Okay.

Can be applied and is that all the time and regretted.

Regret and streamline picked up and yes, we can and.

And that's for sure.

And further.

Average and got all our strategies.

And two P M and digitalization and with that I, just talked about and mentor globally two day.

Well when you're painting of the eyes and ears that was mentioned and your second question is related with that and I'm thrilled.

And I talking about.

Our allocation of resources for enhancing and Michigan.

And in a while.

Third relative to similar efficiency of ink exist and engine and already aware I know you're goodness, they're working on that but that Mr. Issue is concerned about we simply cannot okay too.

When a large amount of resources that all day.

Now since we have to engage on from a gas electric.

Electrification as well.

The amount of resources.

I couldn't be limited and therefore, even if in the case of a development of engines and the digitalization and becomes important that relative.

EPS concept and those two becomes very important so let me take both of those into.

Conservation using digitalization and keep yes.

We will reduce and minimize the basic unit of development and so that.

Overall Fisher can be and that's.

And there are important now.

The cleaning of I D is important because you show us a slide number 15 for that purpose.

Yeah.

Pardon the pun.

Mr. Naga mentioned about this a bit.

You don't know where you got indications.

Indications that you could share.

And.

And then a pessimist and using that for western based and it's not.

And that's showing here starting with that for a hybrid version and starting from the left and right.

Yeah.

And generally.

Got it.

Clothing vehicles for material.

And the vehicle and stationery.

Between 60 per cent and eight 2% and James.

And it's not running it to me and for the rest of the time that the engine is there you see other engine.

And it takes a long operation.

Need to be enhanced for and Florida.

So oh no.

But.

Percentage.

Occasionally but reducing it.

Good day.

And Ginglymoid and I've done a nuclear.

Net.

100, and force cost efficiency and so they're moving.

And if you can enhance our quotas go for.

The efficiency of engine sales and by using digitalization and yes, even though with a smaller amount of resources.

We'll try to Gee, that's been a result of the Mirage and.

And for development and taking advantage of that and a uniquely Toyota way of doing that to look like for those at both meant to achieve that goal and Israeli shekel for it.

That's all I do think and Mr Chew bags and it didn't.

And we would like to complete the financial results Press conference and I. Thank you very much for taking time out of your occupied.

Sure and be a part of this program for long. Thank you very much for participation.

Yeah.

Okay.

Full Year 2021 Toyota Motor Corp Earnings Press Conference - Part 2

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