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Toyota will ramp up hybrid, EV output in U.S., China; plays wait-and-see on Trump tariffs

A Toyota executive in a dark suit talks on stage behind a white podium.
Toyota CFO Yoichi Miyazaki’s guidance on electrification and tariffs came as he announced a 28 percent drop in profit for the quarter ended Dec. 31. (SCREENSHOT FROM TOYOTA ONLINE NEWS CONFERENCE)
HG
By:
Hans Greimel
Last Updated
February 05, 2025 01:59 PM

TOKYO — Toyota Motor Corp. is ramping up its electrification plans in the U.S. and China, as the automaker takes a wait-and-see approach to the new tariffs threatened by President Donald Trump.

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