Straightline - Retired Toyota executive speaks out

Retired Toyota executive speaks out

Gary Convis, 65, who recently retired as chairman of Toyota Motor Manufacturing, Kentucky Inc., is the first non-Japanese to lead a Toyota division. Besides his stint at Toyota, he's worked for GM and Ford, so he's been around and knows the auto industry inside and out.

He was in Baltimore recently to speak at the Maryland World Class Consortia, and was interviewed by the Baltimore Sun. Much of what he had to say we pretty much knew, except for this—which blew me away:

"...Also, I believe there is an amazing statistic that Toyota spends about $1 million per hour on research and development. ... So, they very deeply invest money to provide the type of technology that will be successful in the next century..."

Full story here.

Posted by Bob Apr 17, 2008 6:01 am

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Categories: Toyota | Auto Industry

Comments

ateixeira - Apr 17, 2008 11:08 am (#1 Total: 4)

Recife, PE, Brazil

Big money, but I'm sure this is the reason they have grown as much as they have.

estreka - Apr 17, 2008 2:03 pm (#2 Total: 4)

subarctic north - Great Falls, MT

I was a little surprised that he's such a proponent of nuclear power. I must say, I agree with him. Most folks just think of moments like Chernobil and shutter.

hondacura4 - Apr 17, 2008 2:50 pm (#3 Total: 4)

My father actually knows this guy personally as he is a product planner at their corporate office in Erlanger, Ky. The manufacturing facility is about an hour away in Georgetown, Ky.

I know Toyota makes huge amounts of cash, and has a large amount of cash flow but that kind of money in just an hour is.......WOW!

billt9 - Apr 17, 2008 3:01 pm (#4 Total: 4)

Toyota employs 299,394 people.
Toyota spends $186,932,255,663 a year.
At $1M/hr of research, that's $8,736,000,000 on research.
So that's 4.67% of yearly spendings.
http://www.toyota.co.jp/en/ir/financial_results/2007/year_end/highlights.pdf