For close to a century, Toyota prided itself on its ability to constantly trim the costs of making its complex, highly engineered vehicles.
But when Takero Kato, the head of the Toyota division tasked with building electric vehicles, travelled through China in 2018 he was shocked by what he found.
“For the first time, I came face to face with the competitiveness of Chinese components,” he told the company’s internal newspaper, Toyota Times, in November.
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