Toyota Motor Corporation · Yaris European core models Target for 2005 Number of vehicles (thousands of units) 800. 12 a. Sales Strategy: Europe ... Toyota Motor Corporation

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Attaining global growth and improved efficiency

Toyota Motor CorporationSeptember 12, 2003

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Cautionary Statement with Respect to Forward-Looking Statements

This presentation contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic conditions affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro and the British pound; (iii) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) changes in the laws, regulations and government policies affecting Toyota’s automotive operations, particularly laws, regulations and policies relating to environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies affecting Toyota’s other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota’s ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in the “Operating and Financial Review and Prospects” and “Information on the Company” sections and elsewhere in Toyota’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.

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Ryuji ArakiExecutive Vice PresidentToyota Motor Corporation

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Part ⅠⅠⅠⅠ TOYOTA NOWGlobal Manufacturing and Marketing in 2002

Part ⅡⅡⅡⅡ TOYOTA NEXTa. Sales Strategy – Regional Strategies:

North America, Europe, Asia, China, and Japanb. Building Global Development and Optimum

Production Systemsc. Future Growth through Market Creation

Part ⅢⅢⅢⅢ Financial Strategy

Part ⅣⅣⅣⅣ Technology Strategy

Agenda

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PartⅠⅠⅠⅠ TOYOTA NOWPartⅠⅠⅠⅠ TOYOTA NOW

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Global Manufacturing and Marketing in 2002Production and Sales

1,500

3,000

4,500

6,000

CY92 CY98 CY00 CY02 Projections forCY03Overseas production Overseas sales

Number of vehicles (thousands of units) Number of vehicles (thousands of units)

* Total units including Toyota/Lexus, Daihatsu, and Hino brands

Domestic production Domestic sales

～～～～～～～～～～～～～～～～～～～～～～～～

764764764 2,4122,412 1,4671,4671,467 2,9302,930 1,7791,7791,779 3,4803,480 2,1752,1752,175 3,9493,949 2,5702,5702,570 4,2404,240

6,314 6,167

6,7306,550

7

FY92FY92FY92FY92 FY94FY94FY94FY94 FY96FY96FY96FY96 FY98FY98FY98FY98 FY99FY99FY99FY99 FY00FY00FY00FY00 FY01FY01FY01FY01 FY02FY02FY02FY02 FY03FY03FY03FY03

Operating income(US GAAP*2)

Global Manufacturing and Marketing in 2002Overseas Production and Operating Income

0

500

1,000(Billions of yen)

131 yen/$

122 yen/$

(Thousands of units)2,000

Overseas production volume (calendar year) *1

Exchange rate (yen/dollar)

*1. Output including Toyota, Daihatsu, and Hino brands*2. FY92-96 : Japan GAAP

650

2,175

1,271

～～～～～～

8

Part ⅡⅡⅡⅡ TOYOTA NEXTPart ⅡⅡⅡⅡ TOYOTA NEXTAttaining global growth and improved efficiency

9

a. Sales Strategy: North AmericaSteadily expanding sales towards the 2 million target

0

500

1,000

1,500

2,000

1998 1999 2000 2001 2002Units manufactured in North America Units imported from Japan

Target for 2003–2004

Projection for 2005


8.7 8.7 9.3 10.1 10.4 **

Expanding local production

Expanding local production

2,0002,0002,000

* Market share in the US (%)

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a. Sales Strategy: North AmericaCreating markets through new product launches

55

1010

1515

00

Passenger vehicle marketPassenger vehicle market

Lexus RX330(from March 2003)

Tundra Double Cab (scheduled launch:

fall 2003)

19901990 20022002

Corolla Camry

The U.S. market :

Scion (from June 2003)

Next-generation Prius(scheduled launch:

October 2003)

xA

xB

No. 1 in 2002

passenger vehicle sales

No. 1 in 2002

passenger vehicle sales

Number of vehicles (millions of units) Number of vehicles (millions of units)

Commercial vehicle (light truck) marketCommercial vehicle (light truck) marketCommercial vehicle (light truck) market

11

a. Sales Strategy: EuropeAchieving 800 thousand sales target ahead of time Renewal of strategic core models completed

2.9% 2.9%

3.4%

3.9%

4.5%

0

200

400

600

800

1998 1999 2000 2001 20022.0

3.0

4.0

5.0

Toyota sales units Market share

Market share (%)

～～～～～～～～Avensis

CorollaYaris

European core models

Target for2005


800800800

12

a. Sales Strategy: EuropeImprove products (diesel-powered vehicles)- Expanding lineup for diesel-powered vehicles - Expanding local production of diesel engines - DPNR launch

0

100

200

1998 2001 2002

Diesel sales ratio

16%

22%

31%

Diesel EnginesRapid expansion of local production From Jan.03: TMUK 50,000 units

TMMF 30,000 units From 2005: Poland 150,000 units

～～～～～～～～

DPNR/launch in 2003DPNR：：：：Diesel Particulate - NOx Reduction system


13

a. Sales Strategy: AsiaEstablish a solid position as a top-brand in major markets→→→→ Expand faster than the market

+14%

+26%

0

100

200

300

400

1998 1999 2000 2001 20020

10

20

30

Toyota sales units Year-on-year growth: market Year-on-year growth: Toyota

Year-on-year growth (%)

* excluding China

～～～～～～～～

Passenger vehicles ratio: 47%

Market share:

22%

Market Market share:share:

22%22%


Projection for 2005

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a. Sales Strategy: ChinaManufacturing and marketing to be strengthened in response to market growth

2002 2003 2004 2005 2006 2007 2008 2009 2010

Establish fullproduct lineup

EstablishToyota brand

Prod

uct

lineu

p Pr

oduc

tion

capa

city

Daihatsu(compact)

VIOS

25,000 units/Year →→→→115,000 units/Year

50, 000 units/Year

Large &luxury

Luxury SUV

50,000 units/Year Several hundred thousand units/Year30,000 units/Year

Compact

Aggressive introduction of modelsAggressive introduction of modelsAggressive introduction of models

Crown

Corolla

Land Cruiser/Prado

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a. Sales Strategy: JapanDomestic market and Toyota sales

0

2,000

4,000

1998 1999 2000 2001 200220

40

Total market excluding minivehicles Toyota’s share (%)

～～～～～～～～

Toyota’s share: maintaining and

expanding high-level over 40%Toyota’s share: maintaining and

expanding high-level over 40%Market share(%)


Projectionfor 2005

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a. Sales Strategy: JapanToyota Sales by Category (excluding minivehicles)

Toyota’s share (overall) :

2002:

42.4 %January to July, 2003:

42.8 %

37.4

77.9

41.8

45.8

76.5

59.6

30 40 50 60 70 80Toyota’s share: for the year 2002Toyota’s share: January to July, 2003

Market share (%)

3 Box Large & Luxury

2 BOX

Minivan,Cab Wagon

Vitz

Alphard～～～～～～～～

～～～～～～～～

Wish

CelsiorCelsior

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a. Sales Strategy: JapanReorganization of sales channel and Lexus introduction

Toyota dealers: Luxury vehicles Toyopet dealers: Medium-sized

vehicles Corolla dealers: Compact vehicles

New Netz: Develop new market segment(from spring of 2004)

From August 2005,180 dealers / 4 models

Price range

Tradition

Advanced / originality

Future positioning

Areas to be changed

- Lexus brand: New introduction - Toyota brand: 5 →→→→ 4 channels

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b. Building Global Development and Optimum Production SystemsPursue optimum product lineups by region

Region-specific modelsRegion-specific models

Core modelsCore models

CamryCamry CorollaCorolla Yaris/Vitz

Previa/Estima

HiluxAvensisAvensis

TacomaTacoma

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b. Building Global Development and Optimum Production SystemsResearch and development system:Global network through linkage between Japan (core technology) and regional bases (local needs)

Toyota Technical Center in the US

TMEM R&D Group

HigashifujiTechnical Center

★

★

JapanCore technology

development

JapanCore technology

development

DevelopmentDevelopment

CollaborationCollaboration



CALTY (Design Center in the US)



ED2 (Design Center in France)

Toyota Technical Center/Design Headquarters (Head Office)

★★★★New R&D Centers in Asia and Australia(Thailand and Australia)

★★★★New R&D Centers in Asia and Australia(Thailand and Australia)

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b. Building Global Development and Optimum Production SystemsDomestic/overseas outputs

1,779 2,5702,175

764 1,051 1,346 1,467

1,500

3,000

4,500

6,000

1992 1994 1996 1998 2000 2002 ProjectionFor 2003

Domestic production Overseas production

Expanding Overseas production



* Total output including Toyota/Lexus, Daihatsu and Hino brands* Total output including Toyota/Lexus, Daihatsu and Hino brands

6,3146,314

Maintaining Domestic productionMaintaining Domestic productionMaintaining Domestic production

～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～～

UK plant

Kentucky plant expansion, USA

Canadian plant expansion

West Virginia plant, USA

Chengduplant, China

French plant

Polish plant

Tianjinplant, China

6,7306,730Indiana plant, USA


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b. Building Global Development and Optimum Production SystemsStrengthen production in major regions

148148 166166 5050 7171 55 2525

< North America > < Europe > < China >

New factory in Texas (from 2006)

Local production expansion of engines- Start of production of TMMAL engines

(from April 2003) and capacityexpansion (from 2005)

- TABC engine assembly (from 2005) etc.

＋＋＋＋

- Capacity expansion through the first 3 work-shifts in the UK and French factories

- JV with PSA Peugeot (from 2005)

＋＋＋＋

Diesel-powered engine production at the new factory in Poland (from early 2005)

Production in cooperation with China FAW Group (from the fall of 2003)

(tens of thousands of units)Present Plan

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b. Building Global Development and Optimum Production SystemsIMV Project (from 2004)

South Africa

To South America

To Europe / Africa

To over 80 countries and regions

Thailand: global production baseOther Asian countries: Engines and main components production bases

ThailandThailand

The PhilippinesOther countries

India

: Pickup truck / multipurpose vehicles: Engines and main components

A network base for manufacturing and export of pickup trucks and multipurpose vehicles. Consolidating production output on a global scale and creating a mutual supply network

Argentina

South Africa / Argentina : Interregional production bases

Japan

Indonesia

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b. Building Global Development and Optimum Production SystemsUMR activity (Unit and Material Manufacturing Reform)

Attain “cost reductions,” “quality improvement” & global deployment through standardization and simplification

Example: Process innovation in engine development – the use of digital engineering –

Existing Process: 32 months ⇒⇒⇒⇒⇒⇒⇒⇒After innovation: 16 monthsAfter innovation: 16 months

Goals : - Lead time and costs: 50% reduction- Quality: the world’s best

①①①① Development ~ production preparation process

②②②② Product structure, production facilities③③③③ Next-generation production method

Innovation

1. Synchronize product and process designs

Product designProduct design Preparing productionPreparing production Start of commercial Start of commercial manufacturingmanufacturing

Reduce number of Reduce number of initialinitial design changesdesign changes

Shorten lead time for Shorten lead time for production preparationproduction preparation

Reduce the Reduce the manman--hourhour of of overseas support processoverseas support processeses

2. Verification on prototype model line and creation of data base

3. Distribute 3D solid data globally

24

Global-scale motorization c. Future Growth through Market Creation

The automobile industry still holds great growth potential

The automobile industry still holds great growth potential

The U.S. market expansion

Growing population

The U.S. market expansion

Growing population

Advances in the Eastern &

Central European and Russian markets

Advances in the Eastern &

Central European and Russian markets Strong growth

of Asian marketsStrong growth

of Asian markets

25

c. Future Growth through Market Creation

TECHNOLOGY DEVELOPMENT

Lead

ing-

edge

te

chno

logi

esLe

adin

g-ed

ge

tech

nolo

gies

Nex

t-gen

erat

ion

tech

nolo

gies

N

ext-g

ener

atio

n te

chno

logi

es

Exist

ing

tech

nolo

gies

Exist

ing

tech

nolo

gies

Products focused on market creationComfort Kindness Excitement

Nanotechnology Materials technology

Biotechnology Energy technology

Engine Body Electronics

Transmission Chassis

ITSafety

Environment

MARKETING

Assessing customer needs

Propose visions

26

c. Future Growth through Market CreationNext-generation technology development : Environment

Fuel cell hybrid vehicle Toyota FCHV(limited marketing launched since December 2002)

Next-generation Prius andNext-generation hybrid system

Achieve both superior environmental and driving performance

27

c. Future Growth through Market CreationNext-generation technology development : Safety

Improvement of real safety performance

Passive Safety

- Earning Euro NCAP 5★★★★（（（（New Avensis））））- Addressing various types of crash situations- Use of peripheral monitoring technology

Radar /PreCrash safety system(commercialized in Japan in February 2003)

PSB

Image sensor

Brake

Radar sensor

Active Safety

withoutwithoutwithoutwithoutAFSAFSAFSAFS

withwithwithwithAFSAFSAFSAFS

The world's first

The world's first

- Field of vision assistance

- Autonomy driving supportVSC, Navigation/Telematic etc.

- Network driving support

* AFS：：：： Adaptive Front-lighting System

- Intelligent AFS*, etc.

The world's first

The world's first

28

c. Future Growth through Market Creation

Growth potential of auto industry in the diversified societyGrowth potential of auto industry in the diversified society

3. Value: technological innovation- Investments in a wide range of R&D- Establish global standard- Achieve both superior environmental and

driving performance

2. Competition: pursue efficiency

Optimum production and development systemsContinuous cost reductions

1. Management: growth strategySpeed and diversification

Market creationAdapting to the markets

SustainabilitySocial responsibility / building trust

PassionEnthusiasm and conviction

Value chainITS / Finance, etc.

Improve customer satisfaction and realize growth

29

Part ⅢⅢⅢⅢ Financial StrategyPart ⅢⅢⅢⅢ Financial StrategyTowards a long-term, stable growthTowards a long-term, stable growth

30

Profit Earnings and EfficiencyGrowth and targets in operating income ratio & ROE

5.6%

7.7%

6.1%6%

8.2% 8.3%(1Q)

RO

E

10%(%)

9%(%)

6

9

10

7

～～～～～～～～

0

500

1,000

FY99 FY00 FY01 FY02 FY03 FY04 (forecast) Target

1Q （（（（ROE：：：：12.3%））））

IF: Forex rates in FY04= Forex rates in FY03

＊＊＊＊1Q＝＝＝＝1st Quarter

(Billions of yen)

(US GAAP)

Ope

ratin

g in

com

e ra

tio

6.8%7.1%

9.6% 7.8%

10.4%

Operating income Operating income ratio ROE

1Q

31

FY99 FY00 FY01 FY02 FY03 FY04Unconsolidated Subsidiaries

Cost ReductionEnhanced cost reduction effects

300

(forecast)

Billions of yen

200

100

0

* FY99 – FY02: Japan GAAP (US GAAP)

32

Long-term, Stable GrowthAccumulated net income and growth in EPS

0

2

4

FY94 FY96 FY98 FY00 FY0220

80

140

200

Accumulated net income EPS (net income per share)

Trillions of yen

* FY94 – FY97: Japan GAAP

(yen/share)

(US GAAP)

33

Free cash flow Dividends & share buybacksFY99 FY00 FY01 FY02 FY03

Capital expenditures R&D

Dividend Payments & Share BuybacksFree cash flow allocated to dividend payments and share buybacks

*1. Free cash flow = Current net income + Depreciation costs - Capital expendituresSee Annex ⅠⅠⅠⅠfor a reconciliation of free cash flow to net cash provided by operating activity

*2. R&D Expenses for FY99 – FY02: JAPAN GAAP

(US GAAP)

(Billions of yen)1,000

500

0

34

Banks

[March 31, 2003 ][Sept. 30, 1999]

Dramatic drop

Shareholdingsby banks

Shareholdingsby banks

VSVSIncrease in foreign shareholders(listed on NY and London Stock Exchanges in September 1999)

Increase in foreign shareholders(listed on NY and London Stock Exchanges in September 1999)

Increase in individual shareholders(reduction in stock unit in August 2000)Increase in individual shareholders(reduction in stock unit in August 2000)

Change in Share Ownership

34%15%

35

Social Contribution Program CommitteeSocial Contribution Program Committee

Corporate Ethics Committee

Corporate Ethics Committee

Stock Option CommitteeStock Option CommitteeNY/London stock listing- Disclosure based on SEC standards- Identical information disclosure in New York,

London and Tokyo

NY/London stock listing- Disclosure based on SEC standards- Identical information disclosure in New York,

London and Tokyo

General shareholders’meeting

General shareholders’meeting

International Advisory Board

International Advisory Board

Labor-Management Council & Forum

Labor-Management Council & Forum

Board of directorsBoard of directors

MonitoringMonitoringMonitoring

<Monitoring>

<Internal informationmanagement>

Disclosure CommitteeDisclosure Committee

Accounting audits based on US & Japan auditing

standards

Accounting audits based on US & Japan auditing

standards MonitoringMonitoring

<Internal/externalauditing>

Mon

itorin

gM

onito

ring

Mon

itorin

gM

onito

ring

Mon

itorin

gM

onito

ring

Mon

itorin

g

President

Managing Officers

Board of statutory auditors

More than half are external auditors

Board of statutory auditors

More than half are external auditors

Faster operations/strengthened monitoring by various stakeholdersSpeedy Decision Making and Strengthened Corporate Governance

36

Brand value Brand value enhancementenhancement

Motor ShowMotor ShowMediaMedia

Financial information

IR

Corporate information

PRTechnical

information

CR

IR Activities and Brand Value Enhancement

Investors & shareholders Investors & shareholders

37

Part ⅣⅣⅣⅣ Technology StrategyPart ⅣⅣⅣⅣ Technology Strategy

38

Akihiko SaitoExecutive Vice PresidentToyota Motor Corporation

39

40

41

Diversified Energy Scenario

Natural gas

Crude oilCoal

Wind PowerHydraulic/

Geothermal

PhotovoltaicInnovative

Technologies

2000 21002080206020402020

Prim

ary

ener

gy /

Prod

uctio

n vo

lum

e

1000

2000

3000

0

Cru

de o

il eq

uiva

lent

tons

(mill

ions

)

Source: NEDO

Nuclear power

Biomass

42

Future Image of Powertrain Development

2000 20X0

Internal combustion engine vehicles（（（（ICE））））

Tota

l wor

ld v

ehic

le o

wne

rshi

p

1

0 Year

(in billions)

Internal combustion

engine hybrid（（（（ICE-HV)Fuel cell vehicle

2

43

“Right vehicle” for the “Right place” at the “Right time”

Clean diesel engine vehicleGasoline hybrid engine vehicle

Fuel cell hybrid vehicle

NOx

NOx and PM regulatory figures for Europe

year

PM

100

CO

NOx

Hc

year

regulatory figures for Japanhydrogen gas station

Right vehicle

Right placeRight time

44

Approach to Environmental Problems

Approach through life cycle of vehicle

Environmentalproblems

Production

Usage

DisposalRecycle

45

Example of LCA: CO2 Replacement

0

0.5

1

Gasoline engine vehicle

Disposal stageUsage stageProduct stage

46


Usage Stage

Disposal

0

0.5

1



Product Stage

47

0

0.5

1


Diesel enginevehicle

Gasoline hybrid vehicle



48

0

0.5

1


Diesel enginevehicle

Gasoline hybrid vehicle

Fuel cell hybrid vehicle



49

Diesel Vehicle

2003 AVENSIS

with DPNR

Gasoline Hybrid Vehicle

1997 PRIUS

2003Next

generation PRIUS

Toyota’s Technology Developments

2003 TOYOTA FCHV

2003 TOYOTA

FCHVBUS Fuel Cell Hybrid Vehicle

(FCHV)

50

CO2 replace in Avensis

CO2 replace

2.0L Gasolineengine

2.0L Diesel engine

100

150

200(g/km)

～～0

Comparison of the CO2 Emissions for Diesel and Gasoline Vehicles

51

*particulate matter

0.25

(g/km)

NOx (g/km)

PM

0.08

0.025Diesel regulatory

0

Gasoline regulatory

Comparison of NOx and PM* Regulatory Figures in Euro4

52

Diesel Engine with DPNR

EGR Cooler

Exhaust Gas

Turbo Charger

Exhaust Port Injector

EGR Valve

Oxidation Catalytic Converter

CommonRail System

DPNR Catalytic Converter

53

Euro4 ('05)

Euro3 (Current)

Current average Diesel without DPNR

with DPNR

(EC mode)

NOx

PM

New Avensis

Emissions of Common Rail Engine with DPNR

54


Diesel Vehicle

2003 AVENSIS

with DPNR


1997 PRIUS

2003Next

generation PRIUS

2003 TOYOTA FCHV

2003 TOYOTA


(FCHV)

55

PRIUS: The World’s First Mass-Produced Hybrid Vehicle

56

◆◆◆◆ Innovative advances in fuel economy, surpassing conventional gasoline-fuel engine

◆◆◆◆ Innovative advances in fuel economy, surpassing conventional gasoline-fuel engine

◆◆◆◆ Drastically cleaner emissions

◆◆◆◆ Drastically cleaner emissions

DoubleFuel Economy

DoubleFuel Economy

ReduceEmissions by 90 %

ReduceEmissions by 90 %

Development Goals of First-Generation Prius

57

Parallel HV Series/Parallel HV( HV of Hybrids)Series HV

nonEV

Drive

*EVDrive

HV Technology Matrix

Strong

Mot

or P

ower

/ Ve

hicl

e Po

wer

Rat

io

THS Prius

THS-C:ESTIMA

THS-M:CROWN

JapaneseVehicle B

JapaneseVehicle A

＊＊＊＊:propelled by electric motor only

THSIING Prius

SU-HV

Mild

58

Next Generation PRIUS with New Hybrid System – THS II –

THS II

59

Hybrid Synergy Drive

Improvement of conventional engines

Existing hybrid system

Current conventional engines

Fun to Drive

Fuel Economy Hybrid Synergy Drive

60

Acceleration Performance and Fuel Efficiency in New PRIUS

Japanese HV A

current PRIUS

Bad Take-off acceleration performance Good

COROLLA(L4 1.3L））））

COROLLA (L4 1.5L））））ALLION (L4 1.8L））））

MARKⅡⅡⅡⅡ(L6 2.5L））））CAMRY (L4 2.4L））））

Good

Fuel efficiency

Bad

Next generation PRIUS

Trade-off between Fuel Efficiency and Acceleration performance

61

Diesel Vehicle

2003 AVENSIS

with DPNR


1997 PRIUS

2003Next

generation PRIUS

2003 TOYOTA FCHV

2003 TOYOTA


(FCHV)


62

The FCHV with hydrogen-absorbingalloy tankat the EVS-13 (Osaka)

◇◇◇◇The FCHV-3 with hydrogen-absorbingalloy tank

◇◇◇◇The FCHV-4 with high-pressure hydrogen tanks

◇◇◇◇The FCHV-5 with CHFreformer

◇◇◇◇FCHV-BUS1

◇◇◇◇Limited marketingwith the delivery ofTOYOTA FCHV

◇◇◇◇FCHV-BUS2

The world’s first FCHVwith methanol reformer

Development of TOYOTA FCHV

2002

20011997

1996

63

Insistence on In-house Development

Next generation PRIUS (2003)

TOYOTA FCHV (2002)

64

In-house Development of Toyota Hybrid System

Secondarybattery

Powercontrol

unit

Generator

Engine

Motor HybridECU

Engine & Motor & Generator Power control unit

In-house developed components

65

In-house Development of FCHV SystemIndependent In-house Development of Total System Including Fuel Cell StacksIndependent In-house Development of Total System Including Fuel Cell Stacks

Motor

Aircompressor

Secondarybattery

High-pressurehydrogen

storage tank

Motor

Air compressorPowercontrol

unit

Power control unit

TOYOTAFC Stack

In-house developed components

HV EUC

TOYOTA FC Stack

66

Ⅰ. World leading-technologyⅡ. Fastest commercialization in the worldⅢ. Truly effective cost reduction

Advantage of In-house Development

67

1. Toyota’s technology strategy for environmental problems

(1) The mind set of “right vehicle” for the“right place” at the“right time”(2) LCA as method for evaluating vehicle environmental impact

2. Insistence on in-house development source of Toyota’s competitive power

Conclusion

68

Attaining global growth and improved efficiency

Toyota Motor CorporationSeptember 12, 2003

Documents

Toyota Motor Corporation · Yaris European core models Target for 2005 Number of vehicles (thousands of units) 800. 12 a. Sales Strategy: Europe ... Toyota Motor Corporation