management group: But before it could feel comfortable unveiling those plans, Toyota put in months of work to pledge fresh investment in the US. The technology transfers represent gestures of goodwill to Beijing by the Japanese automaker, which wants to step on the accelerator in China as CEO Akio Toyoda told an internal management group, according to minutes of meetings on March 19 and April 23 viewed by Reuters, according to Global Times China. Announcing US investment first was a strategy Toyoda felt the company needed to pursue to avoid US President Donald Trump's wrath, the minutes showed, providing a rare window into how it has sought to tread carefully as the US and China battle for investment, jobs and influence in the global economy. The automaker said it would establish a green-technology research institute with China's Tsinghua University and provide state-owned BAIC Group's Foton unit with fuel-cell technology for buses. For Toyota to operate globally, we need to strike a fine balance between China and the US, the March 19 minutes quoted Toyoda as saying. According to the April 23 minutes, the Japanese automaker is making what one unidentified senior executive described as a significant move to steer its focus to China, a market where it is far behind industry leaders Volkswagen AG and General Motors Co. It's imperative to avoid making enemies.
(news.financializer.com). As
reported in the news.
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