At Toyota annual meeting, ambitious pivot may overshadow shareholder challenge
TOYOTA CITY, Japan :Shareholders of Japan's Toyota were set to vote for an unprecedented resolution on the automaker's climate lobbying at an annual general meeting on Wednesday, a day after it announced a radical roadmap for electric vehicle tech.
The Japanese giant has become a target in recent years for activists and green investors who said it has been slow to roll out EVs. Toyota is taking a multi-pathway approach toward carbon neutrality that includes petrol-electric hybrids and hydrogen fuel cells, along with battery EVs. The roadmap showed that under new CEO Koji Sato, who took over from Akio Toyoda - grandson of the founder who became chair in April - Toyota has adopted much of a revamp that engineers and planners have been developing as options for months.
The AGM comes as Toyota also faces questions about governance, with some major U.S. public pension funds saying they planned to vote against the re-election of Toyoda as chair, citing what they said is a lack of board independence.
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