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Tesla Is Worth More, But Toyota Gets Carmaking, Akio Toyoda Says
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Toyota Motor Corp. might be losing to Tesla Inc. in terms of market value, but don’t underestimate the fact that the Japanese manufacturer has built more than 100 million cars, President Akio Toyoda said in unusually direct comments at a competitor.
“Tesla says that their recipe will be the standard in the future, but what Toyota has is a real kitchen and a real chef,” Toyoda, 64, said during an online briefing on Friday after more than doubling the company’s operating profit forecast for the current fiscal year.