豐田汽車 (TM) 2021 Q4 法說會逐字稿

[Interpreted] Now ladies and gentlemen, I would like to start part 2 of Fiscal 2021 Financial Performance Press Conference by Toyota Motor Corporation. First of all, let me introduce to you the participants for this part: member of the Board and Chief Digital Officer, James Kuffner; Chief Production Officer, Masamichi Okada; Chief Communication Officer, Jun Nagata; Chief Financial Officer, Kenta Kon; Chief Technology Officer, Masahiko Maeda.

[翻譯]現在女士們，先生們，我想開始豐田汽車公司2021財年財務業績新聞發布會的第2部分。首先給大家介紹一下這部分的參與者：董事會成員兼首席數字官James Kuffner；首席製作官，岡田正道；首席通信官，Jun Nagata；首席財務官 Kenta Kon；首席技術官前田正彥。

Now the member of the Board, James Kuffner, is going to make a presentation.

現在，董事會成員 James Kuffner 將進行演示。

Good afternoon. Today, I'm excited to share with you a glimpse of Toyota's technology and strategy with regards to carbon neutrality.

下午好。今天，我很高興與大家分享豐田在碳中和方面的技術和戰略。

Before I begin, I would like to express deep gratitude to the millions of Toyota customers who continue to choose our products and services and place their trust in us.

在開始之前，我要向數以百萬計的豐田客戶表示深深的感謝，他們繼續選擇我們的產品和服務並信任我們。

The COVID-19 global pandemic has been difficult for everyone. These strong financial results that we have shared today were only possible due to the hard work and dedication of Toyota Group employees, suppliers, dealers, shareholders and partners worldwide. Thanks to these amazing people, Toyota can continue to create and develop advanced technologies and provide outstanding products and services that fulfill the needs of customers all over the world.

COVID-19 全球大流行對每個人來說都很艱難。我們今天分享的這些強勁的財務業績只有在豐田集團全球員工、供應商、經銷商、股東和合作夥伴的辛勤工作和奉獻精神下才有可能實現。多虧了這些了不起的人，豐田才能繼續創造和開發先進技術，提供卓越的產品和服務，滿足全球客戶的需求。

The Toyota philosophy was developed to guide our company. At its foundation is mobility and happiness for all. For over 80 years, Toyota has been executing on its vision and mission to produce happiness and deliver safe, sustainable mobility technology to customers globally. As part of that mission, Toyota has been working hard to help all countries and regions around the world achieve carbon neutrality through its products. In addition, Toyota is 100% committed as a company to achieving carbon neutrality by 2050 or earlier.

豐田理念的發展是為了指導我們公司。其基礎是所有人的流動性和幸福感。 80 多年來，豐田一直在執行其願景和使命，即為全球客戶創造幸福並提供安全、可持續的移動技術。作為這一使命的一部分，豐田一直在努力通過其產品幫助全球所有國家和地區實現碳中和。此外，作為一家公司，豐田 100% 承諾到 2050 年或更早實現碳中和。

What does carbon neutrality actually mean for the automotive industry? Carbon neutrality for the automotive industry means achieving zero CO2 emissions in all processes throughout the life cycle of manufacturing, transporting, operating, fueling and/or charging and recycling and disposing of vehicles. Toyota has been innovating and investing in technology to reduce emissions and achieve carbon neutrality for over 30 years.

碳中和對汽車行業究竟意味著什麼？汽車行業的碳中和意味著在車輛的製造、運輸、運營、加油和/或充電以及回收和處置的整個生命週期的所有過程中實現二氧化碳零排放。 30 多年來，豐田一直在創新和投資技術以減少排放並實現碳中和。

In the early 1990s, Toyota committed to achieving the ambitious goal of building a practical mass market vehicle that would have twice the fuel efficiency of a Corolla-class vehicle with the same high reliability and low cost that Toyota customers expect. There were many skeptics at the time. In 1996, Toyota developed and launched its first battery electric vehicle, the RAV4 EV. The RAV4 EV faced significant challenges related to limited range, long charging times and lack of available charging infrastructure. But Toyota engineers used customer feedback and valuable knowledge from the RAV4 EV development to improve both battery technology and power electronics. In 1997, Toyota launched the best-selling Prius, the world's first mass-produced hybrid electric vehicle.

在 1990 年代初期，豐田致力於實現雄心勃勃的目標，即打造一款實用的大眾市場汽車，其燃油效率是卡羅拉級汽車的兩倍，同時具有豐田客戶所期望的高可靠性和低成本。當時有很多懷疑論者。 1996 年，豐田開發並推出了其首款電池電動汽車 RAV4 EV。 RAV4 EV 面臨著與續航里程有限、充電時間長和缺乏可用充電基礎設施相關的重大挑戰。但豐田工程師利用來自 RAV4 EV 開發的客戶反饋和寶貴知識來改進電池技術和電力電子設備。 1997年，豐田推出了世界上第一款量產的混合動力電動汽車，最暢銷的普銳斯。

Bringing practical HEVs to market was not easy. It involved many innovations in motors, inverters, engines, batteries and electronics. Some of Toyota's innovations in battery technology included materials, manufacturing processes, improved safety and crash worthiness, high-power output performance and better recyclability for sustainable manufacturing. Building upon that experience over the past 25 years, Toyota has remained committed to developing an array of new technologies and products to help reduce carbon emissions.

將實用的 HEV 推向市場並非易事。它涉及電機、逆變器、發動機、電池和電子設備方面的許多創新。豐田在電池技術方面的一些創新包括材料、製造工藝、改進的安全性和耐撞性、高功率輸出性能和更好的可持續製造可回收性。基於過去 25 年的經驗，豐田一直致力於開發一系列新技術和產品，以幫助減少碳排放。

We have successfully developed and launched a wide variety of innovative products, including hybrid electric vehicles, battery electric vehicles, plug-in hybrid electric vehicles and hydrogen fuel cell electric vehicles. The success of the Prius demonstrated that our commitment to carbon neutrality had also created a once-in-a-generation opportunity for innovation and market leadership. And today, Toyota offers the world's largest lineup of 55 practical, reliable and affordable electrified vehicles all over the world with many more to come.

我們已成功開發並推出了多種創新產品，包括混合動力電動汽車、電池電動汽車、插電式混合動力電動汽車和氫燃料電池電動汽車。普銳斯的成功表明，我們對碳中和的承諾也為創新和市場領導地位創造了千載難逢的機會。今天，豐田在全球範圍內提供 55 款實用、可靠且價格合理的電動汽車，其中包括世界上最大的產品陣容，未來還會有更多。

Our combined sales volume of electrified vehicles, including HEVs, BEVs, PHEVs and FCEVs, is now more than 2 million vehicles per year. The Atkinson cycle engines in our HEVs and PHEVs are extraordinarily efficient, up around 40%. These efficiency improvements have helped reduce emissions in many parts of the world, particularly those with less green power infrastructure. The net positive impact of Toyota's innovations enabled an estimated reduction in total cumulative carbon emissions of approximately 140 million tonnes in over 20 years. This is equivalent to removing 1.5 million typical passenger vehicles from our world's roads every year over that time period.

我們的電動汽車總銷量（包括 HEV、BEV、PHEV 和 FCEV）現在每年超過 200 萬輛。我們的 HEV 和 PHEV 中的阿特金森循環發動機效率非常高，提高了約 40%。這些效率改進有助於減少世界許多地區的排放，特別是那些綠色電力基礎設施較少的地區。豐田創新的淨積極影響使 20 多年來的累計總碳排放量估計減少了約 1.4 億噸。這相當於在此期間每年從我們的世界道路上減少 150 萬輛典型乘用車。

We are proud of these achievements, but we know we can and we must do better. That is why we are rapidly introducing 15 battery electric vehicle models globally by 2025, including 7 recently announced Toyota bZ models. We are also expanding and improving our product lineup of HEVs, PHEVs and FCEVs. To support all these new products, Toyota will continue to make global investments in exciting new battery technology such as solid-state batteries. Along with more efficient electric motors, these new batteries will help make EVs more practical, safer and more sustainable.

我們為這些成就感到自豪，但我們知道我們可以而且必須做得更好。這就是為什麼我們將在 2025 年之前在全球範圍內快速推出 15 款純電動車型，其中包括最近發布的 7 款豐田 bZ 車型。我們還在擴大和改進我們的 HEV、PHEV 和 FCEV 產品陣容。為了支持所有這些新產品，豐田將繼續對固態電池等令人興奮的新電池技術進行全球投資。除了更高效的電動機，這些新電池將有助於使電動汽車更實用、更安全和更可持續。

Toyota believes the world can achieve carbon neutrality, but there are still many challenges to realizing our dream. Even with perfect battery technology, a BEV will still generate tons of CO2 emissions over its lifetime if it is charged by electricity produced by coal or other nonrenewable energy sources. Another challenge is that not everyone has convenient access to charging infrastructure. I am one of them. I live in an apartment building in Tokyo and have no ability to plug in a vehicle. Fortunately, Toyota can offer me additional choices. For example, PHEVs offer flexibility and can be built with smaller batteries using fewer materials. PHEVs can be driven in zero-emissions electric mode, optimized for the short trips that make up most of the world's driving as well as providing a hybrid mode for longer trips. In addition, Toyota continues to aggressively invest in complementary, new green energy technologies aimed at achieving carbon neutrality.

豐田相信世界可以實現碳中和，但實現我們的夢想仍然面臨許多挑戰。即使擁有完美的電池技術，如果使用煤炭或其他不可再生能源產生的電力為 BEV 充電，它在其生命週期內仍會產生大量的二氧化碳排放。另一個挑戰是並非每個人都能方便地使用充電基礎設施。我是其中之一。我住在東京的一棟公寓樓裡，無法插電。幸運的是，豐田可以為我提供更多選擇。例如，PHEV 具有靈活性，可以用更少的材料用更小的電池製造。 PHEV 可以在零排放電動模式下駕駛，針對構成世界大部分駕駛的短途旅行進行了優化，並為長途旅行提供了混合動力模式。此外，豐田繼續積極投資旨在實現碳中和的互補性新綠色能源技術。

Toyota is the world leader in hydrogen fuel cell technology. Hydrogen is the most abundant element in the universe and can be produced locally at the point of use with nothing but renewable energy and water. Hydrogen can also provide long-term storage of renewable energy for use during peak times. After more than 20 years of research and development, in 2014, Toyota launched the Mirai, our first mass-produced hydrogen fuel cell electric vehicle, which won the World Green Car of the Year Award in 2016.

豐田是氫燃料電池技術的全球領導者。氫是宇宙中最豐富的元素，可以在使用點就地生產，只需要可再生能源和水。氫還可以提供可再生能源的長期儲存，供高峰時段使用。經過20多年的研發，2014年，豐田推出了我們首款量產的氫燃料電池電動汽車Mirai，並於2016年榮獲世界綠色汽車大獎。

Fuel cell technology is truly magical. As the vehicle moves, air from the outside combines with hydrogen in the fuel cell to produce electricity and water, a pure and simple zero-emissions vehicle that can be refueled in 3 minutes. Our second-generation Mirai was announced last December. We improved performance, comfort and efficiency, increasing EPA range to 647 kilometers or 402 miles.

燃料電池技術真是神奇。隨著車輛的行駛，來自外部的空氣與燃料電池中的氫氣結合產生電能和水，這是一款純淨簡單的零排放車輛，可在 3 分鐘內完成加油。我們的第二代 Mirai 於去年 12 月發布。我們提高了性能、舒適性和效率，將 EPA 續航里程增加到 647 公里或 402 英里。

Despite these improvements, Hydrogen energy still faces many challenges related to available infrastructure, overall efficiency and enabling low-cost, clean hydrogen production. Toyota will continue to invest in technology to overcome these challenges. Moreover, passenger cars are only a small part of hydrogen's future potential. Toyota's hydrogen fuel cell technology could help to clean up a large percentage of the world's entire transportation ecosystem. That means achieving carbon neutrality in trucks in heavy transport, trains, buses, taxis, aviation, shipping, forklifts in industrial processes, all of whose combined CO2 emissions exceed those of passenger cars.

儘管有這些改進，氫能仍然面臨許多與可用基礎設施、整體效率和實現低成本、清潔氫生產相關的挑戰。豐田將繼續投資於技術以克服這些挑戰。此外，乘用車只是氫氣未來潛力的一小部分。豐田的氫燃料電池技術可以幫助清理世界整個交通生態系統的很大一部分。這意味著在重型運輸中的卡車、火車、公共汽車、出租車、航空、航運、工業過程中的叉車中實現碳中和，所有這些產品的二氧化碳排放總量都超過了乘用車的排放量。

Toyota has also developed modular fuel cells and a stand-alone fuel cell generator that can be repositioned to produce electricity anywhere on demand. For example, you can use Toyota's stand-alone fuel cell generator to quickly deploy a charging station for a BEV or PHEV.

豐田還開發了模塊化燃料電池和獨立的燃料電池發電機，可以重新定位以在任何需要的地方發電。例如，您可以使用豐田的獨立燃料電池發電機為 BEV 或 PHEV 快速部署充電站。

But cleaning up new vehicle sales is just the beginning. There are more than 1.4 billion vehicles in the world today, and most of them have internal combustion engines. Toyota is exploring possible ways to clean up the world's legacy fleet of ICE vehicles that will still be in operation during the next 10 to 15 years. Hydrogen fuel can also be burned as a cleaner fuel. Just last month, Toyota demonstrated a new hydrogen engine prototype that could expand the options for achieving carbon neutrality faster. In the world of motor sports, where the development speed of new technology is rapid, President Toyota, who is a master driver himself, takes the wheel and repeatedly evaluates these vehicles and technology progress. Toyota's work on making ever-better cars now also has the potential to enable more environmentally friendly motor sports.

但清理新車銷售僅僅是個開始。當今世界上有超過 14 億輛汽車，其中大部分都裝有內燃機。豐田正在探索可能的方法來清理在未來 10 到 15 年內仍將運行的世界遺留 ICE 車隊。氫燃料也可以作為更清潔的燃料燃燒。就在上個月，豐田展示了一種新的氫發動機原型，可以擴大更快實現碳中和的選擇。在新技術發展速度飛快的賽車運動世界中，身為駕駛大師的豐田總裁親自掌舵，反複評價這些車輛和技術進步。豐田在製造更好的汽車方面所做的工作現在也有可能實現更環保的賽車運動。

In everything we do, Toyota is and has always been firmly committed to carbon neutrality. Toyota has the world's largest and rapidly expanding lineup of electrified vehicles, consisting of BEVs, HEVs, PHEVs and FCEVs. Because of our unique history of working with electrification for nearly 25 years, Toyota's technology is world-class and strongly positioned to help different countries around the world reduce emissions and achieve carbon neutrality faster. This was all done before mandated rules by governments or the recent global movement and growing awareness of the need for carbon neutrality.

在我們所做的每一件事中，豐田始終堅定地致力於實現碳中和。豐田擁有世界上最大且快速擴展的電動汽車陣容，包括 BEV、HEV、PHEV 和 FCEV。由於我們在電氣化領域擁有近 25 年的獨特歷史，豐田的技術是世界一流的，並且有能力幫助世界各地的不同國家更快地減少排放並實現碳中和。這一切都是在政府強制制定規則或最近的全球運動以及對碳中和需求的日益認識之前完成的。

Giving back to the world and having a clean future is in our Toyota DNA. We are very excited about the future of electrified mobility and the tremendous, new products and business opportunities that the green economy will create as we make progress towards achieving our goal of carbon neutrality. However, no single company, including Toyota, can accomplish this goal alone. All industries must work together to develop new technology and infrastructure in cooperation with scientists and academia as well as local and national governments. This is a challenge that we are excited about facing because it will not only lead to better products but also help protect our precious planet at the same time.

回饋世界並擁有一個清潔的未來是我們豐田的 DNA。隨著我們朝著實現碳中和目標取得進展，我們對電動汽車的未來以及綠色經濟將創造的巨大新產品和商機感到非常興奮。然而，包括豐田在內的任何一家公司都無法單獨實現這一目標。所有行業都必須與科學家和學術界以及地方和國家政府合作，共同開發新技術和基礎設施。這是一個我們很高興面對的挑戰，因為它不僅會帶來更好的產品，同時也有助於保護我們寶貴的星球。

We would like to be a trusted partner to build the best product suitable for people in every part of the world to achieve carbon neutrality faster with Toyota's brand representing quality, reliability, low cost and long-lasting value. Toyota is 100% committed to the global goal of achieving carbon neutrality by 2050 and, as a result, a brighter happier future for us all. Thank you very much.

我們希望成為值得信賴的合作夥伴，以代表質量、可靠性、低成本和持久價值的豐田品牌，打造適合世界各地人們的最佳產品，以更快地實現碳中和。豐田 100% 致力於實現到 2050 年實現碳中和的全球目標，從而為我們所有人創造更光明、更幸福的未來。非常感謝你。

[Interpreted] Now ladies and gentlemen, we would like to start the Q&A session. (Operator Instructions) And I'd like to request you to ask no more than 2 questions. And the Japanese Q&A will be simultaneously translated, but for English questions and answers, that will be consecutively translated. And therefore, please wait for the translation.

[翻譯]現在女士們，先生們，我們開始問答環節。 （操作員說明）我想請您問的問題不超過 2 個。日文問答將同步翻譯，但英文問答將連續翻譯。因此，請等待翻譯。

Samira Davis of Bloomberg. I will switch the screen. So if you see yourself on the screen, please start your questions. So Ms. Samira , please?

彭博社的薩米拉戴維斯。我會切換畫面。因此，如果您在屏幕上看到自己，請開始您的問題。那麼，薩米拉女士，好嗎？

Hello. Can you hear me okay?

你好。你能聽到我的聲音嗎？

Yes, we can.

我們可以。

I have one question for Mr. James Kuffner about electrification of vehicles. It seems that there's kind of 2 camps when evaluating Toyota's pursuit of electric vehicles, one that looks at Toyota as kind of behind the pack in developing battery electric vehicles and another that looked at the recent announcement of the bZ electric vehicle plan as Toyota finally announcing the plans that it had been building for quite a long time, so not necessarily behind the pack.

我有一個關於車輛電氣化的問題要問詹姆斯庫夫納先生。在評估豐田對電動汽車的追求時，似乎有兩種陣營，一種認為豐田在開發電池電動汽車方面處於落後地位，另一種則著眼於最近宣布的 bZ 電動汽車計劃，因為豐田終於宣布了它已經制定了很長時間的計劃，因此不一定落後。

I wanted to ask, James, where do you see Toyota standing compared to rivals in regard to development of specifically battery electric vehicles? I know Toyota has quite a strength in hybrid vehicles.

我想問一下，詹姆斯，在開發專門的電池電動汽車方面，您認為豐田與競爭對手相比處於什麼位置？我知道豐田在混合動力汽車方面很有實力。

Thank you very much for your question. I'll make a brief comment, and then I'd like to invite our CTO, Mr. Maeda, to follow up.

非常感謝您的提問。我會做一個簡短的評論，然後我想請我們的 CTO 前田先生跟進。

One of the reasons that I spent some time to explain the history of electrification is that a lot of people don't actually realize that Toyota developed electric vehicles over 20 years ago, and we've learned a lot. It requires a lot of innovation and development in engines and motors and power electronics, all of these things that are needed in order to build a practical electric vehicle and electrify transportation and mobility.

我花了一些時間來解釋電氣化歷史的原因之一是，很多人實際上並沒有意識到豐田在 20 多年前就開發了電動汽車，而我們學到了很多東西。它需要在發動機、電機和電力電子方面進行大量創新和開發，所有這些都是製造實用電動汽車並使交通和移動電氣化所必需的。

And Toyota is always listening to customers, always trying to develop products that are suitable for every part of the world. And we have to remember that the goal is not electric vehicles. The goal is carbon neutrality. And even if we have the best technology, if it's not chosen by customers, it will not have the impact of reducing emissions. And that's the reason why we've chosen to have a full lineup, and we've invested in all of these technologies.

豐田一直在傾聽客戶的聲音，一直在努力開發適合世界各地的產品。我們必須記住，目標不是電動汽車。目標是碳中和。而且即使我們有最好的技術，如果不被客戶選擇，也不會有減排的效果。這就是我們選擇擁有完整陣容的原因，並且我們投資了所有這些技術。

But make no mistake, Toyota is really excited, and I believe we're strongly positioned to lead the world in the best, reliable, low-cost battery electric vehicles. As you know, producing batteries has a lot of challenges, and we're trying to overcome them as well as the rest of the industry related to infrastructure. But we should also not forget that mining some of the rare elements that are needed to produce today's batteries, whether it's lithium or cobalt or nickel, these things are also producing emissions.

但毫無疑問，豐田真的很興奮，我相信我們有能力在最好、可靠、低成本的電池電動汽車領域引領世界。如您所知，生產電池有很多挑戰，我們正在努力克服這些挑戰以及與基礎設施相關的其他行業。但我們也不應該忘記，開採一些生產當今電池所需的稀有元素，無論是鋰、鈷還是鎳，這些東西也會產生排放。

So we have to find a good balance, and that's what Toyota's committed to. We've reduced the size, we've increased power output and we've made incredible innovations in performance and safety of battery technology. And we're doing that with 25 years of experience of building cars that are electrified. And like I said, we're now selling over 2 million electrified vehicles per year. So I feel very confident that we can continue to lead the industry in changing and producing products that are chosen by customers all over the world that will deliver clean energy and clean transportation.

所以我們必須找到一個很好的平衡，這就是豐田的承諾。我們縮小了尺寸，增加了功率輸出，並且在電池技術的性能和安全性方面做出了令人難以置信的創新。我們憑藉 25 年的電動汽車製造經驗來實現這一目標。就像我說的，我們現在每年銷售超過 200 萬輛電動汽車。因此，我非常有信心，我們可以繼續引領行業改變和生產全球客戶選擇的產品，這些產品將提供清潔能源和清潔交通。

I'd like to ask maybe CTO Maeda-San to follow up.

我想請 CTO Maeda-San 跟進。

[Interpreted] Let's wait for the interpretation to follow.

[解釋]讓我們等待解釋。

(foreign language)

（外語）

[Interpreted] Now from my side, let me add some comments. As Dr. Kuffner mentioned, batteries is one way to realize carbon neutral. In fact, battery vehicles are one way. Realizing carbon neutral is one purpose of electrification.

[解釋] 現在從我這邊，讓我補充一些意見。正如 Kuffner 博士所說，電池是實現碳中和的一種方式。事實上，電動汽車是一種方式。實現碳中和是電氣化的目的之一。

Then how can we achieve carbon neutral? At Toyota, we think environmental technology itself is not worth it if it isn't used widely. Carbon neutral by 2050 or in China by 2060 are the numbers that we are hearing. But way before that, we were developing the first Prius, and even at that time, we think that the technology is only good when it is widely spread.

那麼我們如何才能實現碳中和呢？在豐田，我們認為如果不廣泛使用環境技術本身就不值得。我們聽到的數字是到 2050 年或到 2060 年在中國實現碳中和。但在那之前，我們正在開發第一輛普銳斯，甚至在那個時候，我們認為這項技術只有在廣泛傳播時才是好的。

Then the question is how can we make technology widespread.

那麼問題是我們如何才能使技術普及。

[Interpreted] You don't have to stop there because you're just being translated simultaneously.

[翻譯] 你不必停在那裡，因為你只是同時被翻譯。

[Interpreted] And how can you make technology used widely? High convenience for the customer is important. As we mentioned in Part 1, the technology or vehicles that we prepare will have to be practical for the customers. Worldwide, there are many types of customers. Of course, on a day-to-day basis, there are some people who simply use vehicles as passenger cars, and it may sound like an excessive case. But for example, in the United States, a 1 pound trailer may be towed by the vehicles. And in the Southern Hemisphere, there are people who go into the mountains and drive on roads where you can't imagine vehicles being driven.

[解讀]你如何才能讓技術得到廣泛應用？對客戶的高度便利性很重要。正如我們在第 1 部分中提到的，我們準備的技術或車輛必須對客戶實用。在世界範圍內，有許多類型的客戶。當然，在日常工作中，也有一些人將車輛簡單地用作乘用車，這聽起來可能有些過分。但例如，在美國，一輛 1 磅重的拖車可能會被車輛拖走。而在南半球，有些人進入山區，在你無法想像有車輛行駛的道路上行駛。

Historically, Toyota, even before the days of electrification, has always focused on the convenience of the customers. We have responded to customers' needs, and as a result, we created the current full lineup of products that we have. Towards carbon neutral when we prepared electrified vehicles. It's the same approach. For people who tow heavy trailers, what kind of vehicles would be necessary? Currently, a lot of people think hybrids are the most convenient, and that is represented in the form of sales and units. In the future, we may have good charging stations and we have higher battery performance, some people may see that as convenience.

從歷史上看，即使在電氣化時代之前，豐田也一直專注於為客戶提供便利。我們響應了客戶的需求，因此，我們創造了我們現有的完整產品陣容。當我們準備電動汽車時，實現碳中和。這是相同的方法。對於拖重拖車的人來說，需要什麼樣的車輛？目前，很多人認為混合動力是最方便的，以銷量和單位的形式表現出來。未來，我們可能會有好的充電站，我們有更高的電池性能，有些人可能會認為這是方便。

So not just the technology of batteries, but depending on the region, customers will use their vehicles in their own ways. So convenience and environmental technology is to be provided by Toyota. Both will be provided by Toyota. We think that as important.

因此，不僅是電池技術，而且根據地區的不同，客戶將以自己的方式使用他們的車輛。因此，便利和環保技術將由豐田提供。兩者都將由豐田提供。我們認為這同樣重要。

And for electrified vehicles, as a result, we have a full lineup: HEVs, PHEVs, FCEVs, PEVs. We have this full lineup. And that is because the convenience of the customers and environmental technology are both important. And as we consider this very seriously, we have this full lineup. And in the future we would like to continue to make efforts so that we can realize a carbon neutral with electrification. Thank you.

因此，對於電動汽車，我們擁有完整的產品陣容：HEV、PHEV、FCEV、PEV。我們有完整的陣容。那是因為客戶的便利性和環境技術都很重要。當我們非常認真地考慮這一點時，我們擁有完整的陣容。未來，我們將繼續努力，實現電氣化的碳中和。謝謝你。

[Interpreted] Thank you, Ms. Davis, for your question. (foreign language)

[翻譯] 謝謝戴維斯女士的提問。 （外語）

Mr. Naoto Ikeda , please. (Operator Instructions) Mr. [Ikeda], could you start -- please start your question, please?

請池田直人先生。 （操作員說明）[Ikeda] 先生，你能開始嗎——請開始你的問題，好嗎？

[Interpreted] [Naoto Ikeda], freelance journalist. So earlier, Mr. Nagata talked about electrification, and moving toward that, you said that we would require 30x more batteries that you are using currently. If that is the case, procuring that battery, especially the raw materials for the battery production, including lithium, cobalt and nickel included, that was mentioned earlier. Currently, those raw materials are procured for the most part in China, and probably you would need to start thinking about procuring in Japan or from Japan. Toyota alone wouldn't be able to achieve that. It would require cooperation with the government.

[解釋] [池田直人]，自由記者。所以早些時候，Nagata 先生談到了電氣化，朝著這個方向發展，你說我們需要比你目前使用的電池多 30 倍。如果是這樣的話，採購那個電池，特別是電池生產的原材料，包括鋰、鈷和鎳，就是前面提到的。目前，這些原材料大部分是在中國採購的，您可能需要開始考慮在日本或從日本採購。單靠豐田是無法做到這一點的。這需要與政府合作。

And what is the current status of the discussion with the government about the procurement of those raw materials for batteries?

與政府討論採購這些電池原材料的情況如何？

One other question, which also relates to the batteries. Basically speaking, those batteries could combust substantially. And if you leave unaddressed, it could take fire, and probably it will become costly if you try to control that characteristics of the batteries are taking to fire. So what is the balance of that? And in terms of cost competition amongst rivals, how are you going to maintain your cost competitiveness, trying to control the combustiveness of those batteries?

另一個問題，也與電池有關。基本上，這些電池可以大量燃燒。如果你不加以解決，它可能會起火，如果你試圖控制電池起火的特性，它可能會變得昂貴。那麼這其中的平衡是什麼？而在競爭對手之間的成本競爭方面，您將如何保持成本競爭力，試圖控制這些電池的燃燒性？

[Interpreted] Thank you, [Mr. Ikeda] for your question. With respect to the first question, with respect to the production of batteries, So Okada, the CPO, will respond to the first part of your question. And the second question relates to the safety of battery and also the balance with the cost, and Mr. Maeda, CTO, will respond to that question. So Mr. Okada, please.

[解釋]謝謝你，[先生。池田]為你的問題。關於第一個問題，關於電池的生產，所以CPO岡田會回答你問題的第一部分。第二個問題涉及電池的安全性以及與成本的平衡，CTO前田先生將回答這個問題。岡田先生，請。

[Interpreted] Thank you for your question, Mr. Ikeda , and allow me to answer your question. First of all, in terms of the procurement of raw materials for battery production. naturally, as you pointed out in your question, we do have those concerns. And to address those concerns, in relation to batteries, we do have various partners. We do have several partners who work with us for battery creation, and we started making efforts to ensure the procurement of batteries. And as you mentioned, the collaboration and cooperation with the government is required for the procurement of batteries and the requirement of batteries, and that is a very important aspect. And therefore, working with partner is one thing we are doing. And also, we have a partner working with us in our subsidiary, the battery manufacturer. So we work with Panasonic to ensure the certainty of the procurement of materials for batteries.

【翻譯】池田先生，謝謝您的提問，請允許我回答您的問題。首先，在電池生產原材料的採購方面。當然，正如你在問題中指出的那樣，我們確實有這些擔憂。為了解決這些問題，在電池方面，我們確實有各種合作夥伴。我們確實有幾個合作夥伴與我們合作開發電池，我們開始努力確保電池的採購。而且正如你所說，在電池採購和電池需求方面需要與政府的合作與合作，這是一個非常重要的方面。因此，與合作夥伴合作是我們正在做的一件事。此外，我們的子公司電池製造商有一個合作夥伴與我們合作。因此，我們與松下合作，確保電池材料採購的確定性。

And once we have assured the procurement of raw materials in terms of procurement as well, as Mr. Nagata mentioned, the production volume is expected to increase. I will be repeating, currently, annually, we have 6 gigawatt hours. And in 2030, we have to produce 180 gigawatt hours. And we need to establish newly 60 production lines for those batteries. And to ensure that volume for the past 20 years or so, for hybrid EVs, we produced 17 million hybrid vehicles. And the batteries required for hybrid electric vehicles, the capacity of that, probably 30x that will have to be produced in the next 10 years or so.

而且，一旦我們在採購方面也保證了原材料的採購，正如永田先生所說，預計產量會增加。我將重複一遍，目前，每年，我們有 6 吉瓦時。到 2030 年，我們必須生產 180 吉瓦時。我們需要為這些電池新建60條生產線。為了確保過去 20 年左右的產量，對於混合動力電動汽車，我們生產了 1700 萬輛混合動力汽車。混合動力汽車所需的電池，其容量，可能是未來 10 年左右必須生產的 30 倍。

So as mentioned earlier, in addition to ensuring the procurement of raw materials, we must ensure the appropriate production of the batteries as well. We must ensure the supply is stable and safe supply of that for us to secure the volume as well as the speed of those batteries. We are working closely with multiple number of partners, and that is very important. And also, the subsidiaries for producing batteries, we have PPS and also . In a sense, the production there is close to in-house production and in the small -- starting with a small capacity and starting with the small basic unit, we are establishing new production lines, preparing that in the short lead time and repeating that frequently. That's what we are trying. And if those facilities for manufacturing is necessary, we are going to produce and manufacture those production facilities as well.

所以如前所述，除了保證原材料的採購外，還要保證電池的合理生產。我們必須確保供應穩定和安全，以確保這些電池的體積和速度。我們正在與多個合作夥伴密切合作，這非常重要。此外，生產電池的子公司，我們有 PPS 和。從某種意義上說，那裡的生產接近於內部生產，而且是小型的——從小容量開始，從小基本單元開始，我們正在建立新的生產線，在短時間內準備好並重複這一點頻繁地。這就是我們正在嘗試的。如果這些製造設施是必要的，我們也將生產和製造這些生產設施。

And I'd like to share with you some slides. As I mentioned earlier, back in 1997, we introduced hybrid vehicles, and since then, since 1997, the production facilities of hybrid motors and also the production lines with batteries, and for FCEVs, we are producing hydrogen tank manufacturing equipment. For those important protection equipment, starting with the small basic units, by minimizing the required investment, we have been introducing those production lines to be introduced in the short lead time. So those are the efforts that we have made over the years.

我想和大家分享一些幻燈片。正如我之前提到的，早在 1997 年，我們就推出了混合動力汽車，從那時起，從 1997 年開始，我們開始生產混合動力汽車的生產設施以及電池生產線，而對於 FCEV，我們正在生產氫罐製造設備。對於那些重要的保護設備，從小型基本單元開始，通過最大限度地減少所需投資，我們一直在引進那些在短時間內引進的生產線。這就是我們多年來所做的努力。

And this sort of technology and skills that we have accumulated over the years will be applied for the production for the -- and the volume of PEPs and electrification of overall. So the -- within group, we have the businesses of producing production equipment and mobilizing the capabilities of equipment manufacturers. We intend to have this solid and robust structure for battery supply and procurement.

我們多年來積累的這種技術和技能將應用於生產——以及 PEP 的數量和整體電氣化。所以——在集團內部，我們有生產生產設備和調動設備製造商能力的業務。我們打算為電池供應和採購建立這種穩固而穩健的結構。

[Interpreted] Now this is Maeda speaking. The safety of battery and the cost, the balance between the 2. Let me start by speaking from a broader perspective. When you say battery performance, you are probably talking about batteries as seen from the customers' point of view. What does battery performance mean to the customer? As you mentioned, cruising range or probably deterioration performance, which will have an impact on used car prices, those will be major factors.

[解釋] 現在這是前田在說話。電池的安全性和成本，兩者之間的平衡。我先從更廣闊的角度說。當您說電池性能時，您可能是在談論從客戶的角度來看的電池。電池性能對客戶意味著什麼？正如您所提到的，續航里程或性能可能會惡化，這將對二手車價格產生影響，這些將是主要因素。

And to balance that, in the process of using the product, how safe can it be? In the worst case, batteries can burn, but making sure that, that doesn't happen. We have to strike a balance, technically speeding. For example, if you want to extend the cruising range, for volume, how much power can you accumulate? That is energy density. That performance and the deterioration performance and safety, these may sometimes contradict each other.

為了平衡這一點，在使用產品的過程中，它的安全性如何？在最壞的情況下，電池可能會燃燒，但請確保不會發生這種情況。我們必須取得平衡，技術上超速。比如你想擴大續航里程，對於體積，你能積累多少動力？那就是能量密度。該性能與劣化性能和安全性，這些有時可能相互矛盾。

Safety is always important to Toyota. So energy density is not always the priority for us. That will be our approach. Then how do we improve cruising range? For example, by improving power efficiency, the cruising range can be improved. Of course, improving battery performance is on approach. But you can look at the overall vehicle and improve power efficiency like reducing resistance or reduce the energy necessary inside the vehicle, it can be reduced.

安全對豐田來說始終很重要。所以能量密度並不總是我們的首要任務。這將是我們的方法。那麼我們如何提高續航里程呢？例如，通過提高功率效率，可以提高續航里程。當然，提高電池性能正在接近中。但是您可以查看整個車輛並提高動力效率，例如減少阻力或減少車輛內部所需的能量，它可以減少。

And for hybrid vehicle development, we have accumulated that kind of technology over the years. as a result, improving our efficiency will lead to reduction of the amount of batteries to be used. So improving safety and by improving power efficiency and reducing the batteries will -- can be realized together. And that is what Toyota has done over the years. And we will continue to look at things from the perspective of the customer.

而對於混合動力汽車的開發，我們多年來積累了這種技術。因此，提高我們的效率將導致電池使用量的減少。因此，提高安全性、提高功率效率和減少電池數量將——可以一起實現。這就是豐田多年來所做的事情。我們將繼續從客戶的角度看待事情。

Now let me go into a little bit more of detail. If I can have Slide 14. Now deterioration of the batteries. What does that mean? I will be going into detailed technical explanation. Allow me to do that. For example, for the batteries, if you want to a sporty drive where energy goes in and out frequently, as you see on the left-hand side, the electrolyte concentration will vary, and that accelerates deterioration of the batteries. And since we were developing the hybrid vehicle, we've been creating models of this. The volume, current temperature, when these are changed, how do they deteriorate? We did a lot of basic experiments on that. This is what we call model-based development.

現在讓我更詳細一點。如果我可以有幻燈片 14。現在電池變質了。這意味著什麼？我將進行詳細的技術解釋。請允許我這樣做。例如，對於電池，如果您想要頻繁進出能量的運動型駕駛，如您在左側看到的那樣，電解液濃度會發生變化，這會加速電池的劣化。自從我們開發混合動力汽車以來，我們一直在創建這種模型。體積，當前溫度，當這些改變時，它們如何惡化？我們對此做了很多基礎實驗。這就是我們所說的基於模型的開發。

So we created a control system by multiple monitoring of the battery. And since the introduction of hybrids using these models, we introduced the vehicle control technologies to confirm the accuracy and reliability. Currently, 17 hybrid or electrified vehicles are sold by Toyota, and these vehicles are being used by our customers. At least, to the extent of our knowledge, there were no cases where there were no serious impact on the customers. These are being used socially and reliably by our customers at the moment.

因此，我們通過對電池的多重監控創建了一個控制系統。並且自從使用這些模型引入混合動力車以來，我們引入了車輛控制技術以確認准確性和可靠性。目前，豐田銷售了 17 輛混合動力或電動汽車，這些車輛正在被我們的客戶使用。至少，據我們所知，沒有對客戶沒有嚴重影響的案例。目前，我們的客戶正在社會和可靠地使用這些產品。

So historically, we have accumulated this kind of technology. This is used for hybrid vehicles, and this will be used in the future for battery EVs. That is our approach to this technology.

所以從歷史上看，我們已經積累了這種技術。這用於混合動力汽車，未來將用於電池電動汽車。這就是我們採用這項技術的方法。

I went into a bit of details, but that is all from my side. Thank you very much.

我談到了一些細節，但這都是我的觀點。非常感謝你。

[Interpreted] Thank you very much Mr. Ikeda . Now let us take the next question.

[翻譯] 非常感謝池田先生。現在讓我們來回答下一個問題。

From Automotive News, Mr. Hans, please. (Operator Instructions) Mr. Hans, please?

來自汽車新聞，請漢斯先生。 （操作員說明）請漢斯先生？

(foreign language) May I speak in English, please? My question is a little bit about the battery ramp-up that you have. You have need this massive ramp-up in terms of battery supply by 2030. Can you tell us a little bit about your plans for building and sourcing electric vehicles and electric vehicle batteries in North America specifically?

（外語）請問我可以用英語說話嗎？我的問題是關於你所擁有的電池提升的一點點。到 2030 年，您需要大幅增加電池供應。您能否具體介紹一下您在北美製造和採購電動汽車和電動汽車電池的計劃？

And one other thing about the carbon-neutral policy. Toyota has been talking a lot lately about this hydrogen burning engine that you'll demonstrate later this month at Fuji Speedway and also about e-fuels. How seriously are you investing in these kind of technologies right now? Is that a real pathway forward to carbon-neutrality? Or is that just kind of a buzzword or some kind of distraction right now from the main show?

關於碳中和政策的另一件事。豐田最近一直在談論這種氫燃燒發動機，您將在本月晚些時候在富士賽道上展示它以及電子燃料。您現在對這類技術的投資有多認真？這是實現碳中和的真正途徑嗎？或者這只是一種流行語或現在主要節目的某種分心？

And finally, maybe just if I could ask for an update on the Woven City. When can we expect some new developments on that? When will you announce who's living there? Other kinds of updates you might have.

最後，也許我可以詢問有關編織之城的最新情況。我們什麼時候可以期待一些新的發展？你什麼時候宣布誰住在那裡？您可能擁有的其他類型的更新。

(foreign language)

（外語）

[Interpreted] Thank you very much. For the first question, BEV battery sourcing plan will be -- in North America will be answered by Mr. Okada. For e-fuel and H engine, Mr. Maeda; and for the Woven City, Dr. Kuffner will be answering the question.

[解釋] 非常感謝。對於第一個問題，BEV電池採購計劃將是——在北美將由岡田先生回答。對於 e-fuel 和 H 發動機，Maeda 先生；對於編織之城，庫夫納博士將回答這個問題。

[Interpreted] Thank you very much for your question. So your first question was about our battery sourcing in North America. In Part 1, we briefly touched upon this, but in each region, how many electrified vehicles will be produced? That plan is developed. And of course, the batteries will be necessary in each region. And in each region, which vehicle or which powertrain will be necessary? That will have to be identified through dialogue with the customers. And batteries necessary for that is to be produced within that region. That will be an important point towards the future.

[翻譯] 非常感謝您的提問。所以你的第一個問題是關於我們在北美的電池採購。在第 1 部分中，我們簡要介紹了這一點，但在每個地區，將生產多少輛電動汽車？該計劃已製定。當然，每個地區都需要電池。在每個地區，需要哪種車輛或哪種動力系統？這必須通過與客戶的對話來確定。為此所需的電池將在該地區生產。這將是未來的一個重要點。

So you mentioned North America, and the same approach will be applied to North America. For North America, they have vast land, and depending on where you are in the United States, the customers' preference will differ between East Coast, West Coast and Central part. So customer preference, infrastructure are different depending on the regions. So taking that into consideration, we will be supplying vehicles.

所以你提到了北美，同樣的方法也將適用於北美。對於北美來說，他們擁有廣闊的土地，並且根據您在美國的哪個位置，東海岸、西海岸和中部的客戶偏好會有所不同。因此，客戶偏好、基礎設施因地區而異。因此，考慮到這一點，我們將提供車輛。

And likewise, for batteries, hybrids, EVs, for these vehicles, we will be sourcing the appropriate batteries. And in order to do that, we will work through partners, and we may produce in-house. We haven't determined which approach will be taken, but we will consider that so that we can provide supply in a timely manner. That is all from my side.

同樣，對於電池、混合動力車、電動汽車，對於這些車輛，我們將採購合適的電池。為了做到這一點，我們將與合作夥伴合作，我們可能會在內部生產。我們尚未確定將採取哪種方法，但我們會考慮這一點，以便我們能夠及時提供供應。這都是我這邊的。

[Interpreted] So for the second question, let me answer. Towards the carbon neutral, the hydrogen engine, e-fuel. How serious are we in investing in these areas? Starting with the hydrogen engine. As we announced 2 months ago, the President will drive in May in the endurance race. So of course, we are serious. There's no way we are not serious.

[解釋]所以對於第二個問題，讓我來回答。走向碳中和，氫發動機，電子燃料。我們在這些領域的投資有多認真？從氫發動機開始。正如我們在 2 個月前宣布的那樣，總統將在 5 月參加耐力賽。所以當然，我們是認真的。我們不可能不認真。

As we mentioned before, customer convenience is important, and the customers use the vehicles in various ways. So the options for the customers about carbon neutral shouldn't be limited. That is our thinking. And that is why we are developing various types of cars. Of course, the President is participating in a race. The joy of driving should be enjoyed by many customers. And towards carbon-neutral, hydrogen engine may be one solution. And as we think that way, we are serious about this.

正如我們之前提到的，客戶便利很重要，客戶使用車輛的方式多種多樣。因此，客戶對碳中和的選擇不應受到限制。這就是我們的想法。這就是我們開發各種類型汽車的原因。當然，總統正在參加比賽。駕駛的樂趣應該是許多客戶所享受的。對於碳中和，氫發動機可能是一種解決方案。當我們這樣想時，我們對此很認真。

This technology may be applied to a large commercial vehicle. That is something that may be possible. And as Mr. Hans, in the United States and Brazil, bioethanol-based, carbon-neutral fuel is already commercialized. This is based on existing technology. And in the future, if you combine that with hybrids, we will be able to contribute to carbon neutral in saving energy. The technology that we have developed so far and the technology that we are to develop from now on can be combined so that carbon neutral does not limit the choices for customers.

該技術可應用於大型商用車。那是可能的。正如漢斯先生所說，在美國和巴西，基於生物乙醇的碳中和燃料已經商業化。這是基於現有技術。將來，如果您將其與混合動力車結合起來，我們將能夠在節能方面為碳中和做出貢獻。我們迄今為止開發的技術和我們今後要開發的技術可以結合起來，使碳中和不會限制客戶的選擇。

When we say full lineup, we mean depending on the processes and the way of using the vehicles in each region, we want to provide a wide array of options for the customers. So for any technology, we are very serious about it. That is all.

當我們說完整的陣容時，我們的意思是根據每個地區的流程和使用車輛的方式，我們希望為客戶提供廣泛的選擇。所以對於任何技術，我們都非常認真。就這些。

Thank you, Hans, for your question. I'll take the question about Woven City. It's been 16 months since President Toyota announced the Woven City project at Consumer Electronics Show in Las Vegas. And since then, the team has been really hard at work.

謝謝你，漢斯，你的問題。我會回答關於編織城的問題。自豐田總裁在拉斯維加斯消費電子展上宣布編織城市項目以來，已經過去了 16 個月。從那時起，團隊一直在努力工作。

(foreign language)

（外語）

And despite COVID-19, we were able to complete the Phase 1 designs and start the groundbreaking officially this year, February 23. And we are making continuous progress, and we have launched also our website where we've had several thousand inquiries from companies and partners all over the world.

儘管發生了 COVID-19，我們還是能夠完成第一階段的設計，並在今年 2 月 23 日正式開始動工。我們正在不斷取得進展，我們還推出了我們的網站，我們已經收到了數千家公司的諮詢和世界各地的合作夥伴。

(foreign language)

（外語）

And we just announced a partnership with ENEOS to develop what we believe will be most advanced city in hydrogen. And we believe that, that is going to accelerate our initiatives in order to understand how hydrogen and renewable energy can play a big part in smart cities of the future. Woven City's goal is to become a living laboratory of mobility for people, goods and information, and we are continually making updates.

我們剛剛宣布與 ENEOS 建立合作夥伴關係，以開發我們認為將成為最先進的氫能城市。我們相信，這將加速我們的舉措，以了解氫能和可再生能源如何在未來的智慧城市中發揮重要作用。 Woven City 的目標是成為人、物和信息流動性的活實驗室，我們不斷更新。

(foreign language)

（外語）

At this point, we have plans to start inviting companies to start working with us, and we've also launched our website where you can find continuous updates. So please stay tuned.

在這一點上，我們計劃開始邀請公司開始與我們合作，我們還推出了我們的網站，您可以在其中找到持續更新的信息。所以請繼續關注。

(foreign language)

（外語）

Woven City is going to be, I think, a very important part of accelerating our efforts as a company to become a mobility company powered by software and digitalization and really be a true world leader in this area. There are so many issues were -- around urban development, whether it's traffic or pollution, sustainability. And all of these efforts are connected, whether it's carbon neutrality, safe mobility. We would like to accelerate the development of all of that and transform our company to a mobility company of the future through the Woven City project.

我認為，Woven City 將成為加速我們作為一家公司努力成為一家以軟件和數字化為動力的移動公司並真正成為該領域真正的世界領導者的一個非常重要的部分。有很多問題——圍繞城市發展，無論是交通還是污染，可持續性。所有這些努力都是相互關聯的，無論是碳中和還是安全出行。我們希望通過 Woven City 項目加快這一切的發展，並將我們的公司轉變為未來的移動公司。

(foreign language)

（外語）

And this is just part of the larger transformation that we are embarking upon related to software first. I didn't have time to talk about that today, but software first is a dramatic transformation and different way of designing products where we design the software architectures before assembling the product and designing the hardware. And this is going to dramatically improve our reusability of software across many, many different forms of mobility, reduce the development cost and accelerate the features that we can offer to our customers over time. And this is not just for traditional passenger cars but for all kinds of new, connected mobility, personal mobility, flying mobility. And that is going to be something that I hope Woven City can be a flagship project and help lead the world in accelerating that development. Thank you.

這只是我們首先著手進行的與軟件相關的更大轉型的一部分。我今天沒有時間談論這個，但是軟件優先是一種戲劇性的轉變和設計產品的不同方式，我們在組裝產品和設計硬件之前設計軟件架構。這將顯著提高我們在許多不同形式的移動性中的軟件可重用性，降低開發成本，並隨著時間的推移加速我們可以為客戶提供的功能。這不僅適用於傳統乘用車，還適用於各種新型互聯出行、個人出行、飛行出行。這將是我希望 Woven City 能夠成為旗艦項目並幫助引領世界加速發展的東西。謝謝你。

(foreign language)

（外語）

The digitalization of the software first that's happening in our company on our traditional engineering is all connected to the advanced digital technologies that we will deploy and develop in Woven City. So I believe that they're all part of the strategy of leveraging advanced digital technology and connecting those to real products and getting real feedback in a real situation like Woven City.

在我們公司的傳統工程中首先發生的軟件數字化與我們將在 Woven City 部署和開發的先進數字技術有關。所以我相信它們都是利用先進數字技術並將這些技術與真實產品聯繫起來並在像 Woven City 這樣的真實情況下獲得真實反饋的戰略的一部分。

And that's always been our philosophy, try to test and listen to what customers are experiencing and build products that produce human health and happiness.

這一直是我們的理念，嘗試測試和傾聽客戶的體驗，並打造能夠帶來人類健康和幸福的產品。

(foreign language) .

（外語）。

Thank you.

謝謝你。

[Interpreted] Thank you, Hans. So there may be further questions, but since the scheduled closing time has approached, so I would like to ask the next person to be the final person asking questions. May I invite Mr. Chiba-San of Asahi Newspaper. (Operator Instructions) So Chiba-San, please start your question.

[解釋] 謝謝你，漢斯。所以可能還有更多的問題，但是由於預定的截止時間已經臨近，所以我想請下一個人作為最後一個提問的人。可以請到朝日新聞的千葉先生嗎？ （操作員說明）所以千葉山，請開始你的問題。

[Interpreted] Can you hear me? Chiba speaking.

[解釋] 你能聽到我說話嗎？千葉說話。

[Interpreted] Yes. We can hear you.

[解釋] 是的。我們可以聽到你的聲音。

[Interpreted] I have 2 questions with respect to decarbonization. You talked about the next-generation battery. And Mr. Nagata, in Part 1, talked about the importance of enhancing the base of a battery technology development. Could you elaborate on that in details?

[解釋] 我有兩個關於脫碳的問題。您談到了下一代電池。 Nagata 先生在第 1 部分中談到了加強電池技術開發基礎的重要性。你能詳細說明一下嗎？

And as of this moment, how are you going to enhance the performance of battery? By when? And how are you going to bring that forward and produce those batteries? Is there any concrete numbers that you can cite? And can you also talk about the all solid-state battery as well? Do you have any concrete timing or prospect of realizing that?

而此時此刻，您將如何提升電池的性能？什麼時候？您將如何推進並生產這些電池？有沒有具體的數字可以引用？你也能談談全固態電池嗎？你有實現這一點的具體時間或前景嗎？

And the second question relates to the carbon neutrality, and Mr. Kuffner talked about the ICE being made cleaner. And you may be using existing engines, but talking about carbon neutrality, we tend to focus more on electrification. With respect to the development of engine technology, the gasoline, including improvement of the gasoline engine.

第二個問題與碳中和有關，庫夫納先生談到了 ICE 正在變得更清潔。您可能正在使用現有的發動機，但談到碳中和，我們傾向於更多地關注電氣化。就發動機技術的發展而言，汽油，包括汽油機的改進。

[Interpreted] Mr. Chiba, it's very difficult for us to hear your question. The sound is not really coming through. So could you repeat your question once again?

【解釋】千葉先生，我們很難聽到你的問題。聲音並沒有真正通過。所以你能再重複一次你的問題嗎？

[Interpreted] I'm totally Sorry. Can you hear me all right? Can you hear me all right?

[解釋] 非常抱歉。你能聽到我的聲音嗎？你能聽到我的聲音嗎？

[Interpreted] Could you repeat your question once again? We have so much noises. If you could speak louder, probably that will help.

[解釋] 你能再重複一次你的問題嗎？我們有很多噪音。如果你能大聲說話，可能會有所幫助。

[Interpreted] Can you hear me?

[解釋] 你能聽到我說話嗎？

[Interpreted] Well, we can hear you.

[解釋] 好吧，我們可以聽到你的聲音。

[Interpreted] I'm terribly sorry. With respect to the battery technology earlier, it was mentioned that you are going to increase the pace of development that was mentioned in Part 1. And I would appreciate your elaborating on that more concretely on that point. How much are you going to bring that forward, the development of battery technology?

[解釋] 非常抱歉。關於之前的電池技術，有人提到您將加快第 1 部分中提到的開發速度。我希望您能更具體地詳細說明這一點。你打算在多大程度上推動電池技術的發展？

[Interpreted] It's been very difficult for us to receive your voice. Very difficult to hear, discern your voice. We cannot hear you.

[翻譯]我們很難聽到你的聲音。很難聽到，辨別你的聲音。我們聽不到你的聲音。

[Interpreted] Can you hear me?

[解釋] 你能聽到我說話嗎？

[Interpreted] Could you say that once again?

[解釋] 你能再說一遍嗎？

[Interpreted] Can you hear me all right?

[解釋] 你能聽到我的聲音嗎？

[Interpreted] Right now, we can hear you, yes.

[解釋] 現在，我們可以聽到你的聲音，是的。

[Interpreted] I'm terribly sorry. In Part 1, Mr. Nagata talked about the development of battery technology, and he said, Toyota is going to enhance or accelerate the pace of battery technology development. And I would like to hear the details of that to be elaborated. What is the current target or goal you have for battery technology? And how much are you going to bring that forward? And what sort of performance are you aiming at? So if you could talk about that in more concrete and specific terms, I would appreciate that very much. So that's the question one.

[解釋] 非常抱歉。在Part 1中，永田先生談到了電池技術的發展，他表示，豐田將加強或加快電池技術的發展步伐。我想听聽詳細說明。您對電池技術的當前目標或目標是什麼？你打算在多大程度上推動這一點？你的目標是怎樣的表現？因此，如果您能以更具體和具體的方式談論這一點，我將非常感激。所以這是第一個問題。

The second question also relates to carbon neutrality. And you talked about making internal combustion engine cleaner. I think Dr. Kuffner talked about that. And talking about decarbonization, we tend to focus more on electrification technology. But with respect to the development of engines, based upon existing gasoline engines, you may be able to enhance the thermal efficiency of that and improving that aspect. How much investment costs are you expecting for engine development or investing manpower and resources for engine technology? You're not intending to reduce that. I would like you to talk about your approach and concept of engine development. So these are my 2 questions.

第二個問題也與碳中和有關。你談到了使內燃機更清潔。我認為庫夫納博士談到了這一點。談到脫碳，我們往往更關注電氣化技術。但是關於發動機的發展，在現有的汽油發動機的基礎上，也許可以提高那方面的熱效率，改進那方面。您預計發動機開發或發動機技術投入人力物力的投資成本是多少？你不打算減少它。我想請您談談您的引擎開發方法和概念。所以這是我的兩個問題。

[Interpreted] Thank you, Mr. Chiba, for your question. So let me talk about the first question that is today shortening the development time -- lead time for better technology. Mr. Okada will talk about that. And the second question, that is to say the enhancement of ICE or making it cleaner. Mr. Maeda will talk about that.

[翻譯]謝謝千葉先生的提問。所以讓我談談今天縮短開發時間的第一個問題——更好的技術的前置時間。岡田先生會談到這一點。而第二個問題，就是說ICE的增強還是讓它更乾淨。前田先生會談到這一點。

[Interpreted] Okada speaking. Mr. Chiba, thank you for your question. Starting with the Part 1, we have been talking about battery in Part 2 as well. And ending -- moving toward 2030, we are trying to accelerate the pace as quickly as possible, and we are going to secure the necessary volume.

[解釋]岡田說話。千葉先生，謝謝您的提問。從第 1 部分開始，我們也在第 2 部分中討論了電池。最後——邁向 2030 年，我們正在努力盡快加快步伐，我們將確保必要的數量。

As we do that, both hybrid vehicles and PHEVs, customers do support those 2 technologies significantly. And therefore, in terms of supply, we intend to offer those vehicles. And as we do that, we will continue to do batteries for PEVs and also SEVs. So we are working on that, and we accelerate further. So probably in the middle of period between 2020 and 2030, aiming at that time frame, we intend to further enhance our capabilities for batteries for BEVs, ensuring the supply of that and ensure the supply of those batteries that we develop so that we'll be able to achieve the goal that we set for ourselves for 2030. So that's what we are working on in earnest at this moment.

當我們這樣做時，無論是混合動力汽車還是 PHEV，客戶都非常支持這兩種技術。因此，在供應方面，我們打算提供這些車輛。在我們這樣做的同時，我們將繼續為 PEV 和 SEV 製造電池。所以我們正在努力，我們會進一步加速。所以可能在 2020 年到 2030 年的中期，以這個時間框架為目標，我們打算進一步提高我們的 BEV 電池能力，確保供應並確保我們開發的電池的供應，以便我們將能夠實現我們為自己設定的2030年目標。這就是我們目前正在認真做的事情。

With respect to the all solid-state batteries, we're -- it's still in the process of development. And Mr. Maeda will talk about that and supplement that later on. But at this stage, all I can say is it is still in the process of development. We are trying to accelerate the pace of the developing all-state battery as well. And Mr. Maeda will supplement that further.

關於全固態電池，我們 - 它仍處於開發過程中。前田先生將在稍後討論並補充。但在這個階段，我只能說它仍在發展過程中。我們也在努力加快全態電池的發展步伐。 Maeda 先生將進一步補充這一點。

[Interpreted] Maeda speaking. And including additional remarks with respect to your first question, I would like to say the following. With respect to all-state batteries -- solid-state batteries, we are developing raw materials for that. So technologically speaking, we still have very high hurdles to go over. I won't be able to go into great details, but in terms of raw materials that are being developed, the safety and durability are not yet fully satisfied.

[解釋] 前田說話。包括關於你的第一個問題的補充意見，我想說以下幾點。對於全態電池——固態電池，我們正在為此開發原材料。所以從技術上講，我們還有非常高的障礙要克服。我無法詳細說明，但就正在開發的原材料而言，安全性和耐用性尚未完全滿足。

So at this moment, we are specializing on the development efforts, dedicating our efforts for the development of raw materials that can satisfy safety and durability requirement. As Mr. Nagata mentioned earlier, the pace of battery development is being accelerated. That leads to the shortening of lead time for battery parts as well.

所以此刻，我們專注於開發工作，致力於開發能夠滿足安全性和耐用性要求的原材料。正如之前永田先生所說，電池的發展步伐正在加快。這也導致電池部件的交貨時間縮短。

As we move towards achievement of carbon neutrality, we talk about the importance of offering greater options of technology. To put it differently, going forward, what customers would prefer and choose in terms of vehicles offering greater convenience, that is not yet clearly defined yet. So given that uncertainty, I mean customers' preference may change in the future, regulations might change in different ways, and that's where we find ourselves, and we'll try to capture those changes as quickly as possible while we work on this development. It's very important for shorten the lead time for development, including the development of battery as well.

隨著我們朝著實現碳中和的目標邁進，我們談到了提供更多技術選擇的重要性。換句話說，未來，客戶在提供更大便利性的車輛方面更喜歡和選擇什麼，目前還沒有明確定義。因此，鑑於這種不確定性，我的意思是客戶的偏好可能會在未來發生變化，法規可能會以不同的方式發生變化，這就是我們發現自己的地方，我們將在努力進行這項開發時盡可能快地捕捉這些變化。縮短開發週期非常重要，包括電池的開發。

So considering those factors that you see on the screen, compared with existing Toyota vehicles, the bZ -- in the case of bZ4X, we have shortened lead time development by around 30% and focusing more on the battery is going forward. We are now working hard to that where we can shorten lead time for development by another 10%. That means, as a result, we will be able to be achieve the result that we're aiming at without increasing fixed costs and without increasing manpower to be dedicated for that purpose.

因此，考慮到您在屏幕上看到的這些因素，與現有的豐田汽車 bZ 相比，在 bZ4X 的情況下，我們將開發週期縮短了約 30%，並且將更多地關注電池。我們現在正在努力實現可以將開發週期再縮短 10% 的目標。這意味著，因此，我們將能夠在不增加固定成本和不增加專門為此目的的人力的情況下實現我們的目標。

And to realize that, this is connected to the ICE as well, I think there are 2 important factors. As Dr. Kuffner talked about earlier, the digitalization is very important in this area as well. As I explained battery I went into rather technical details. Basically, we use computers simulations in development. And as we engage in development using computer simulations, the development environment itself is going to be digitalized. So working with Kuffner's team, we need to have the robust, solid development for digitalization so that we can accelerate the process of development and achieve the evolution daily.

要意識到這一點，這也與 ICE 有關，我認為有兩個重要因素。正如 Kuffner 博士之前所說，數字化在這一領域也非常重要。當我解釋電池時，我進入了相當技術性的細節。基本上，我們在開發中使用計算機模擬。當我們使用計算機模擬進行開發時，開發環境本身將被數字化。因此，與庫夫納的團隊合作，我們需要對數字化進行穩健、紮實的發展，這樣我們才能加快發展進程，實現每天的演進。

And as we do that, the TPS that Toyota has been accumulating over the years will become very important. In the context of a digital development, digital-based development, many different engineers will work together in engaged development. The drawings can be made by a single person, but in the case of digital development, multiple number will be engaged in the development of software.

當我們這樣做時，豐田多年來積累的 TPS 將變得非常重要。在數字化開發、基於數字化開發的背景下，許多不同的工程師將共同參與開發。圖紙可以由一個人製作，但在數字化開發的情況下，將有多個人從事軟件開發。

So as we do that, how the information is flowing, that needs to be streamlined. And that's area where TPS concept or philosophy of TPS can be applied. And if that is done, if that is streamlined based upon TPS, we can enhance the efficiency further leveraging our own strength. And the TPS and digitalization that I just talked about to the cleaning of ICEs that was mentioned in your second question. It is related to that as well.

因此，當我們這樣做時，信息的流動方式需要簡化。這就是 TPS 概念或 TPS 哲學可以應用的領域。如果做到了，如果在TPS的基礎上進行精簡，我們可以進一步發揮自己的優勢來提高效率。我剛才談到的 TPS 和數字化與您在第二個問題中提到的 ICE 清潔有關。這也與此有關。

First, I talked about the allocation of resources for enhancing efficiency of existing -- thermal efficiency of existing engines. And already, we're earnestly working on that. But as Mr. Ichiba is concerned about, we simply cannot allocate large amount of resources on that. since we have to engage in electrification as well, the amount of resources we can dedicate could be limited, and therefore, even if in the case of development of engines, the digitalization becomes important as well as using TPS concept, and those 2 becomes very important.

首先，我談到了提高現有發動機效率的資源分配——現有發動機的熱效率。我們已經在認真努力。但正如市場先生所擔心的那樣，我們根本無法在這方面分配大量資源。由於我們也必須從事電氣化，因此我們可以投入的資源數量可能會受到限制，因此，即使在發動機開發的情況下，數字化以及使用TPS概念也變得很重要，而這兩個變得非常重要重要的。

So when we take both of these into consideration, using digitalization and TPS, we will reduce or minimize the basic unit of development so that overall efficiency can be enhanced, and that becomes very important.

所以當我們把這兩者都考慮進去的時候，利用數字化和TPS，我們將減少或最小化開發的基本單元，從而提高整體效率，這變得非常重要。

Now why the cleaning of ICE is important. Could you show us Slide #15 for that purpose? Here, in Part 1, Mr. Nagata mentioned about this a little bit. In the case of existing HEVs, when customers are using it, to what extent engine is not used, the engine is stopped, as shown here, starting with RAV4 hybrid version, starting from the left hand before this slide, you have RAV4 PHEVs. And generally speaking, including the vehicle speed is 0, when the vehicle is stationary, between 60% and 90%, the engine is stopped, engine is not running, which means for the rest of the time, the engine is still used. So efficiency of engine when it is in operation need to be enhanced going forward as well.

現在為什麼清潔 ICE 很重要。您能否為此向我們展示第 15 張幻燈片？在這裡，在第 1 部分中，永田先生稍微提到了這一點。對於現有的HEV，當客戶在使用它時，發動機不使用到什麼程度，發動機就停止了，如圖所示，從RAV4混合動力版本開始，從這張幻燈片之前的左側開始，你有RAV4 PHEV。而一般來說，包括車速為0，當車輛靜止時，在60%到90%之間，發動機停止，發動機不運轉，這意味著在剩下的時間裡，發動機仍在使用。因此，發動機在運行時的效率也需要進一步提高。

So although bit and bit, but the percentage of engine game is stationary by reducing the battery electronic efficiency and being enhanced -- we can enhance the efficiency of engine as well. And by using digitalization and TPS, even with a smaller amount of resources, we will try to achieve the similar result of technological development and taking advantage of that. And the uniquely Toyota way of doing that, we would like to use those development to achieve the carbon neutrality going forward. That's all.

所以雖然一點一點，但是通過降低電池電子效率和提高發動機遊戲的百分比是固定的——我們也可以提高發動機的效率。並且通過使用數字化和TPS，即使使用較少的資源，我們也將嘗試獲得類似的技術發展結果並加以利用。以及豐田獨特的這樣做方式，我們希望利用這些發展來實現未來的碳中和。就這樣。

[Interpreted] Thank you, Mr. Chiba. With this, we would like to complete the financial results press conference. Thank you very much for taking time out of your occupied schedule and be a part of this program for long. Thank you very much for your participation.

【解釋】謝謝千葉先生。至此，我們希望完成財務業績新聞發布會。非常感謝您從繁忙的日程中抽出時間並長期參與該計劃。非常感謝您的參與。

[Statements in English on this transcript were spoken by an interpreter present on the live call.]

[本成績單上的英文陳述由現場通話中的一名口譯員說出。]