It was back in 2002 when Fujio Cho, then-President of Toyota Motor Corp., set the company's goal of achieving a 15 percent share of the global automotive market sometime after 2010. Seven years ago, it didn't seem much of a stretch as the automaker had already captured 10.7 percent, and the seemingly-unstoppable company was rapidly growing.
You know you've arrived when your competitors not only begin acknowledging that you exist, but actually see you as a threat. Hyundai got to enjoy this distinct pleasure today when Toyota's chairman Fujio Cho told a group of Korean journalists that it was a "strong enemy". Not only has Hyundai completely transformed its image in North America from a slinger of bargain basement econo-boxes to a respected purveyor of reasonably priced, well built automobiles, but it's also going after emerging mark
Ford President and CEO Alan Mullaly was in Japan again, this time speaking to the media. During his time abroad, he talked about the desire to partner with Toyota even more closely on the development of new technologies. Ford has been licensing Toyota hybrid technology patents for years, currently employed in the Escape and Mariner hybrids.
Thanks to increased demand, and the ability of making the batteries and other hybrid components smaller, Toyota will likely build future Prius models in the United States, Toyota Vice chairman Fujio Cho said in a Wall Street Journal article published today and caught by EV World.