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To accelerate the global move toward sustainable vehicles, Toyota is suggesting simply replacing the inner workings of vehicles already on the roads with cleaner technology like fuel cells and electric motors. "I don't want to leave any car lover behind," Chief Executive Akio Toyoda said Friday, appearing on the stage at the Tokyo Auto Salon, an industry event similar to the world's auto shows. The message was clear: Toyota Motor Corp wants the world to know it hasn't fallen behind in electric vehicles, as some detractors have implied. Japan's top automaker, behind the Lexus luxury brands and the Prius hybrid, is highlighting its clout: It has all the technology, engineering, financial reserves and industry experience needed to remain a powerful competitor in green vehicles. Toyoda told reporters it would take a long time for all the cars to become zero emission, as they only make up a fraction of the vehicles being sold. Changing old cars to go green, or "conversion," was a better
Car sharing platform Zoomcar on Friday said it has inked a merger agreement with Innovative International Acquisition Corp and subsequently become a publicly listed entity on Nasdaq. The transaction values the combined company at around USD 456 million. Upon closing of the transaction, the combined entity will be renamed Zoomcar Holdings, Inc and expects to list its common stock on Nasdaq. Founded in 2013, Zoomcar currently operates across more than 50 cities globally. It has over 3 million active users and over 25,000 vehicles registered for use on its global car-sharing marketplace. "Zoomcar's car-sharing marketplace is positioned to cut across emerging markets, and we expect to target future expansion opportunities in markets, which include SE Asia, Latin America, MENA, and Sub-Saharan Africa," Zoomcar Co-Founder and CEO Greg Moran said in a statement. The entity sees a vast addressable market, totalling around USD 90 billion annually by 2025, he added. Innovative Internation