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29 Nov

Toyota to cash out stake in Denso for EV business: report

Japanese automaker Toyota has reportedly decided to sell a portion of its stake in its largest automotive component supplier Denso to secure more funds for its electric vehicle business and improve asset efficiency. According to Nikkei Asia, Toyota Motor and its affiliations plan to sell about 10%, which is worth approximately JPY 700 billion ($4.7 billion), of the total shares in Denso. The idea is to free up funds for quicker EV investments. Kallanish…
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