When Akio Toyoda, head of Japan’s largest carmaker Toyota, delivered a speech in English at the prestigious Tsinghua University in Beijing, he captured the attention of the students.
“I need people like you,” the chief executive of Toyota said as he unveiled plans to set up a joint research institute for green technology. “The truth is, I believe China will soon be leading the automotive industry in terms of technology and innovation.”
Since his speech in April, Toyota has signed deals with China’s BYD and Contemporary Amperex Technology (CATL) to develop batteries for electrified vehicles and unveiled a $600m investment in the country’s ride-hailing group Didi.
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