Toyota’s EV Push to Challenge Tesla
Toyota Motor Corp. is taking a page from Tesla Inc.’s playbook and tapping the U.S. environmental, social and governance bond market to fund its electric-vehicle push.
The Japanese automaker is planning to issue its first ESG bond in the U.S. as soon as this year, according to people familiar with the matter. The company is looking to raise at least $1 billion, the people said, asking not to be identified because the information is private.
Toyota is the latest automaker to join the ESG bond market, which has seen a surge in demand from investors seeking to put their money into companies that are taking steps to reduce their environmental impact.
Toyota’s ESG Bond
Toyota’s ESG bond will be used to fund its electric-vehicle push, the people said. The company is looking to raise at least $1 billion, the people said, asking not to be identified because the information is private.
Toyota has been investing heavily in electric vehicles, and the company has said it plans to launch 10 new electric models by the end of the decade. The company has also said it plans to invest $13 billion in electric vehicles by 2025.
The company has already launched several electric vehicles, including the Prius Prime, the RAV4 Prime, and the Mirai fuel cell vehicle. The company is also planning to launch a new electric vehicle in the U.S. later this year.
Toyota’s ESG Bond Market Strategy
Toyota’s move into the ESG bond market is part of a broader strategy to challenge Tesla in the electric-vehicle market. The company has said it plans to invest $50 billion in electric vehicles by 2030, and it has already invested $13 billion in electric vehicles by 2025.
Toyota is also looking to expand its presence in the U.S. electric-vehicle market. The company has said it plans to launch 10 new electric models by the end of the decade, and it is also planning to launch a new electric vehicle in the U.S. later this year.
The company is also investing in other areas of the electric-vehicle market, such as battery technology and autonomous driving. Toyota has said it plans to invest $2.8 billion in battery technology by 2030, and it has already invested $1 billion in autonomous driving technology.
Toyota’s ESG Bond Market Competition
Toyota is not the only automaker looking to tap the ESG bond market. Volkswagen AG, General Motors Co. and Ford Motor Co. have all issued ESG bonds in the U.S. in recent years.
Toyota is also facing competition from other automakers in the electric-vehicle market. Tesla has been the leader in the electric-vehicle market for years, and the company has said it plans to invest $50 billion in electric vehicles by 2030.
Other automakers, such as Volkswagen, General Motors and Ford, are also investing heavily in electric vehicles. Volkswagen has said it plans to invest $86 billion in electric vehicles by 2029, and General Motors has said it plans to invest $27 billion in electric vehicles by 2025.
Toyota’s ESG Bond Market Outlook
Toyota’s move into the ESG bond market is a sign that the company is serious about its electric-vehicle push. The company is looking to raise at least $1 billion, and the money will be used to fund its electric-vehicle push.
The ESG bond market has seen a surge in demand from investors seeking to put their money into companies that are taking steps to reduce their environmental impact. Toyota’s move into the ESG bond market is a sign that the company is serious about its electric-vehicle push, and it is likely to be a major player in the electric-vehicle market in the years to come.