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FirstFT: Toyota plans investments in EVs and AI to compete against Chinese rivals

FirstFT: Toyota plans investments in EVs and AI to compete against Chinese rivals

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Good morning. Toyota has forecast a 20 per cent decline in annual profit as it ramps up spending in electric vehicles and artificial intelligence in an attempt to create a “game changer” to compete against Chinese rivals.

Shares in Toyota briefly fell as much as 3 per cent on the weak forecast yesterday despite a blockbuster…


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