Toyota Motor Corporation is an auto manufacturer headquartered in Toyota City, Japan, publicly listed on the Tokyo stock exchange. In 2019 it had US$272.6 billion in revenue and sales of over 9.7 million vehicles. Toyota is present in all major world vehicle markets with the majority of its sales in the US, Japan & China.
- Total score
- Assessment Note
Toyota Motor Corporation received a full ACT assessment in 2019.
Across most indicators, the company is less transition aligned than in its 2019 assessment. This reflects a lack of transparency and ambition in its current activities. Toyota is doing little to encourage its customers to adopt low-carbon vehicles. Although it has a number of new Mobility-as-a-Service (MaaS) business streams, it is not clear how significant or profitable these will be.
As the world’s second largest car manufacturer by vehicle sales, Toyota can quickly pivot its activities to the low-carbon economy of the future, by using its significant research and development (R&D) experience and spend, and setting Science Based Targets Initiative-validated targets for vehicle in-use emissions reductions aligned with the well below 2-degrees pathway. The company should ensure that it does not become as overly focussed on hydrogen cars to achieve emissions reductions as it did on conventional hybrids.
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More about the company
- Ownership structure
- Publicly listed
- Revenue (2019)
- US$272.6 billion
- Number of vehicles sold (2019)