Toyota/India: emissions-cutting and sales goals have aligned - FT中文网
登录×
电子邮件/用户名
密码
记住我
请输入邮箱和密码进行绑定操作:
请输入手机号码,通过短信验证(目前仅支持中国大陆地区的手机号):
请您阅读我们的用户注册协议隐私权保护政策,点击下方按钮即视为您接受。
FT商学院

Toyota/India: emissions-cutting and sales goals have aligned

The carmaker has trailed peers in the move to battery electric vehicles while India, too, wants to make up for lost time

India’s economy has long been touted to investors as the next China. Toyota thinks so for electric vehicles. It plans to invest heavily in making EV parts in India. For the Japanese carmaker, which counts US and China as core overseas markets, this move makes sense.

Toyota’s 48bn rupees ($624mn) investment will focus on producing electric vehicle parts. Toyota has trailed peers in the move to battery electric vehicles. Yet on 11 times forward earnings, the carmaker has double the multiple of German peers such as Volkswagen, well ahead in battery EVs.

India, too, wants to make up for lost time, with plans for 30 per cent of all new cars sold to be electric by 2030. Toyota has its sights set on selling 3.5mn electric vehicles globally by 2030.

Electric car adoption has been slow in India. Blame high EV prices and a lack of charging infrastructure. India’s GDP per capita of below $2,000 is less than a fifth that of China, making price a big obstacle in future EV uptake. Toyota’s relatively late start to the electric market means there is scope to build low-end cars from scratch for the India market. Mitsubishi Motors’ sub $18,000 electric car for the Japanese market shows it can be done.

As for charging points, India and Japan have partnered to develop a common standard for electric car charging stations for emerging markets. A plan for a simplified construction standard, with installation costs below $10,000, could halve current costs.

India’s electric car sales have been weak, at just about 300,000 in total last year. Yet the country shows no reluctance to the shift to electric when it comes to low-cost scooters, with sales here increasing 370 per cent in March. Having more of the electric car supply chain production in India would further lower costs.

Shares of Toyota are up more than a third in the past year, beating the MSCI World Auto index. Capturing India’s EV market early should help maintain its momentum and valuation premium.

版权声明:本文版权归FT中文网所有,未经允许任何单位或个人不得转载,复制或以任何其他方式使用本文全部或部分,侵权必究。

Lex专栏:亚洲将遭遇“特朗普交易”的冲击

汽车行业保护主义抬头的定价过程才刚刚开始。

马斯克对特朗普的押注得到了回报

特斯拉和X的首席执行官将成为特朗普总统身边最具影响力的政治和商业顾问之一。

巴尼耶削减养老金的计划触动了法国人的神经

法国总理的这一省钱提案遭到反对,尽管人们呼吁加强代际公平。

英国学费上涨对学生和大学财务状况的影响

专家称,这些措施不足以解决高等教育经费问题或吸引来自贫困家庭的学生。

这次美国大选对美国企业意味着什么?

大选结果将对能源、汽车和制药等领域的企业产生重大影响。

德国的商业模式失败了吗?

德国三大主要产业同时陷入低迷,经济也停滞不前。政客们终于清醒过来了吗?
设置字号×
最小
较小
默认
较大
最大
分享×