Toyota predicts missing EV-target by end of the year due to semiconductor chip shortage

ShortagesHot SpotsElectric VehiclesHigh Tech / High Touch
Written By Jennifer Joslyn

Toyota Motor Corporation had big goals to meet by the end of the year, but unfortunately, it’s looking bleak. With an original goal of 9.7 million units assembled, the automaker has announced that they will be suspending operations at several Japan plants due to the supply chain constraint and lack of EV-battery materials. It’s expected that Toyota will further elaborate on its plans at its November 1st earnings call.

Toyota’s stock has already declined 5.6% this year.

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Jennifer Joslyn
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