The environmental organization said on Thursday that the leading Japanese automakers, Toyota Motor Corp. (NYSE:TM), Honda Motor Co. (NYSE: HMC), and Nissan Motor Co. (OTCMKTS:NSANY) scored worst in a new Greenpeace survey of ten automakers’ efforts to combat climate change. Shares of Hondan Motor Co. plunged over 1.69% to trade at $25.34 and Toyto dropped 0.24% to trade at $143.03 in early trading session on Thursday.
Greenpeace put Toyota last among the top ten automakers in terms of sales volume – it received the same ranking last year – and observed that zero-emission cars accounted for less than 1% of the company’s sales, as well as modest progress in supply chain decarbonisation.
Toyota raised its yearly sales target for completely electric vehicles to 3.5 million units by 2030 from 2 million units, but it is insufficient, according to Daniel Read, climate and energy campaigner at Greenpeace Japan.
The ranking examined progress in phasing out internal-combustion engines, supply chain decarburization, and resource reduction and efficiency. According to a Toyota spokeswoman, the business is aiming to reduce CO2 emissions as much and as rapidly as possible, and it will continue to “make every effort feasible to give as many alternatives of (battery electric cars) and other multi-powertrains to our consumers across the world.”
Some green investors and environmental groups have said the company should move faster to introduce fully electric (or “battery electric”) vehicles, rather than keeping the internal combustion engine in hybrids.
Toyota rolled out its first mass-produced electric vehicles, the bZ4X SUV, in May but was recalled less than two months later because of a risk wheels could come loose. Still, it said last week it would invest up to 730 billion yen in Japan and the United States to make batteries for fully electric vehicles.
Nissan and Honda ranked 8th and 9th, respectively, both dropping three places from last year’s ranking.
According to a Honda representative, the company will continue to strive towards carbon neutrality by 2050. Nissan declined to comment on the allegation, but stated that the business will continue to push its electrification efforts. General Motors Co maintained its lead.
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