Toyota Motor Corporation announced on Friday that it will issue 100 billion yen ($740.5 million) in sustainable bonds.
The world's largest automaker by sales said it would use the bond proceeds for R&D and capital investment in battery electric vehicles, fuel-cell electric vehicles, and their components, among other things.
Toyota Motor Corporation (abbreviated Toyota) is a Japanese multinational automaker headquartered in Toyota City, Aichi, Japan. Kiichiro Toyoda founded it and incorporated it on August 28, 1937. Toyota is one of the world's largest automakers, producing approximately 10 million vehicles per year.
Toyota Motor Corporation produces vehicles under four brands as of 2022: Daihatsu, Hino, Lexus, and the name brand Toyota. In addition, the company owns 20% of Subaru Corporation, 5.1% of Mazda, 4.9% of Suzuki, 4.6% of Isuzu, 3.8% of Yamaha Motor Corporation, and 2.8% of Panasonic, as well as stakes in vehicle manufacturing joint ventures in China (FAW Toyota and GAC Toyota), the Czech Republic (TPCA), India (Toyota Kirloskar), and the United States (MTMUS).