Since the 1960’s, Japan has been one of the world’s Top producing countries, securing its status as a world leader in automotive manufacturing and technology.
On May 25, 2018, Akio Toyoda, Toyota Motor Corp. chief promised to push most of the manufacturers to keep a competitive edge in emerging technologies. The auto industry rapidly increased from the 1970s to 1990s, however, some of the automakers worried about their future whether they can maintain that lead amid major technological shifts including those outside the auto sector.
Japan’s growth in the auto industry is incredible, now the country is now currently the third largest automotive producer in the world with an annual production of 9.9 million. Sources information stated that Japanese investments helped grow the auto industry in several countries.
Akio Toyoda said, “Whether we can stay competitive is an important challenge for Japanese automakers.”
A Japanese inventor and industrialist, Sakichi Toyoda recognized that new competitors have plentiful cash as well as tend to be quick. Toyoda does not reveal the name, but the list of big names includes Google, Waymo, and Uber.
Toyoda said, “I’m not boasting or anything, but I want to fully leverage that iconic image I have earned as a true car lover.”