Toyota seeks financial kick-start

TOYOTA will reach out to investors to raise $US4.2 billion ($A5.4bn) it needs to kick-start its future. The shareholdings, named Model AA after the Japanese carmaker’s first vehicle, will be earmarked to help pay for expensive research into next-generation systems, including hydrogen fuel cells and safety advances. “As innovation in the industry progresses, it is essential to fully undertake research and development, as well as development of infrastructure, to achieve the next generation of innovations that will support the industry’s future,” Toyota said.