- A Toyota Motor Corp TM affiliate doctored emissions data on some engines dated back to at least 2003, more than a decade earlier than previously indicated, Reuters reports quoting a probe.
- The investigative committee tasked by truck and bus maker Hino Motors Ltd HINOY attributed the scandal to an environment where engineers failed to challenge superiors.
- Hino set up the committee after it admitted to falsifying data related to emissions and fuel performance of four engines.
- The results detailed an oppressive atmosphere where it was difficult for staff to feel "psychological safety."
- Hino's President, Satoshi Ogiso, apologized and promised a new corporate governance system within three months.
- Hino has recalled close to 47,000 vehicles made between April 2017 and March 2022 and looked to recall a further 20,900.
- In 2018, Mazda Motor Corp MZDAY, Suzuki Motor Co SZKMY, and Yamaha Motor Co, Ltd YAMHY came under the scanner for improperly testing vehicles for fuel economy and emissions.
- Subaru Corp FUJHY and Nissan Motor Co, Ltd NSANY were held for the same reason the year before.
- Toyota recently shared plans to commercialize light-duty fuel cell electric trucks in partnership with Hino and others.
- Price Action: TM shares closed higher by 2.57% at $166.77 on Monday.
- Photo via Wikimedia Commons
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