Gleec Exchange Ambassador Aliyyah Koloc Launches FOUNDATION 29
Koloc is leveraging her position as a professional race car driver and as the official Ambassador of Gleec to both raise funds and spread awareness for FOUNDATION 29. Its philanthropic initiative is built on three pillars: cultural heritage preservation, support for individuals living with Asperger's syndrome, and environmental stewardship. Each trustee received $80,000 to initiate pillar-specific projects.
The launch event, hosted by Czech journalist Jiří Šlégl (CNN Prima News), welcomed international trustees, cultural leaders, and supporters to mark the beginning of an initiative shaped by personal experience and global vision.
In her keynote, Koloc reflected on her multicultural background and experience of living with Asperger's syndrome. 'My story is not of one flag but many, a mosaic of identities that fuel my desire to build bridges through art, empathy, and action,' she said.
Born in Dubai to a Czech father with Vanuatuan roots and a Seychellois-Sudanese mother, Aliyyah described the influence of her diverse heritage on her personality: ' I received resilience from the Czech Republic, ancestral wisdom from Vanuatu, peace in simplicity from the Seychelles, strength from Sudan, and vision from Dubai.' She also spoke about living with Asperger's: 'The world can be overwhelming, but difference can be a strength. FOUNDATION 29 is about helping others like me recognize and use that strength.'
FOUNDATION 29 is built on three pillars, each led by a trustee with relevant experience and perspective:
Te Moli Venaos Goiset, a tribal chief and philanthropist from Vanuatu, leads this pillar in preserving endangered artistic expressions, from Renaissance masterpieces to the spiritual legacy of Pacific tribal cultures. 'Europe has lost many of its values. FOUNDATION 29 is a chance to rebuild them by reconnecting with art, nature, and ancestral truth,' Te Moli said.
Syed Nusrat Ahmed, a long-time supporter of Aliyyah Koloc's career from Dubai, focuses on creating tailored programs that will give young people with Asperger's the tools and opportunities they need to thrive. 'Aliyyah's drive to help others comes from lived experience,' Syed said. 'Aliyyah's ability to care for those around her is even more meaningful in light of the challenges she has faced herself. I am proud to be part of FOUNDATION 29, and I will work tirelessly to launch autism support programs in underserved regions.'
Hugues de Jaillon, a philanthropic strategist and global public figure, supports initiatives aimed at protecting ecosystems, particularly in Asia and the Pacific regions. 'Aliyyah has created something timeless,' de Jaillon said. 'FOUNDATION 29 will leave a lasting impact, and it will develop environmental initiatives, particularly across Asia, as Aliyyah's racing will bring her more and more to this part of the world.'
The name FOUNDATION 29 has its roots in a deeply personal story. '29 was my first race number, my father was born on July 29, and my twin sister and I were scheduled to be born on July 29, too, but we were early,' Aliyyah explained. 'This number reminds me of where I started, and where I want to go.'
As Aliyyah continues her racing season with her next GT race in Most, Czech Republic, and more rally raids in the autumn, she remains committed to building FOUNDATION 29 alongside her professional career. 'This foundation is not about charity. It is about commitment. It belongs to all who want to honor the past, uplift the present, and protect the future. To our trustees, to our supporters: Thank you for walking with me.'
FOUNDATION 29 will soon announce its first series of projects across its three pillars. Regular updates will follow as the foundation expands its reach, guided by its trustees and supported by its international network.
Founded in 2025 by race driver Aliyyah Koloc, FOUNDATION 29 is a cross-cultural philanthropic initiative focusing on tribal art and cultural preservation, tailored Asperger's support, and environmental protection. With a global board of trustees and deep personal roots, FOUNDATION 29 aims to bridge art, empathy, and action across continents.
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The financial information presented for the three months and six months ended June 30, 2024, and June 30, 2025, is unaudited. Selected segment highlights The table on the following page shows the costs of produced and purchased uranium incurred in the reporting periods (see non-IFRS measures). These costs do not include care and maintenance costs, selling costs such as royalties, transportation and commissions, nor do they reflect the impact of opening inventories on our reported cost of sales. Non-IFRS measures The non-IFRS measures referenced in this document are supplemental measures, which are used as indicators of our financial performance. Management believes that these non-IFRS measures provide useful supplemental information to investors, securities analysts, lenders and other interested parties in assessing our operational performance and our ability to generate cash flows to meet our cash requirements. These measures are not recognized measures under IFRS, do not have standardized meanings, and are therefore may not be comparable to similarly titled measures presented by other companies. Accordingly, these measures should not be considered in isolation or as a substitute for the financial information reported under IFRS. We are not able to reconcile our forward-looking non-IFRS guidance because we cannot predict the timing and amounts of discrete items, which could significantly impact our IFRS results. The following are the non-IFRS measures used in this document. ADJUSTED NET EARNINGS Adjusted net earnings is our net earnings attributable to equity holders, adjusted for non-operating or non-cash items such as gains and losses on derivatives and adjustments to reclamation provisions flowing through other operating expenses, that we believe do not reflect the underlying financial performance for the reporting period. Other items may also be adjusted from time to time. We adjust this measure for certain of the items that our equity-accounted investees make in arriving at other non-IFRS measures. Adjusted net earnings is one of the targets that we measure to form the basis for a portion of annual employee and executive compensation (see Measuring our results in our 2024 annual MD&A). In calculating ANE we adjust for derivatives. We do not use hedge accounting under IFRS and, therefore, we are required to report gains and losses on all hedging activity, both for contracts that close in the period and those that remain outstanding at the end of the period. For the contracts that remain outstanding, we must treat them as though they were settled at the end of the reporting period (mark-to-market). However, we do not believe the gains and losses that we are required to report under IFRS appropriately reflect the intent of our hedging activities, so we make adjustments in calculating our ANE to better reflect the impact of our hedging program in the applicable reporting period. See Foreign exchange in our 2024 annual MD&A for more information. We also adjust for changes to our reclamation provisions that flow directly through earnings. Every quarter we are required to update the reclamation provisions for all operations based on new cash flow estimates, discount and inflation rates. This normally results in an adjustment to an asset retirement obligation asset in addition to the provision balance. When the assets of an operation have been written off due to an impairment, as is the case with our Rabbit Lake and US ISR operations, the adjustment is recorded directly to the statement of earnings as 'other operating expense (income)'. See note 9 of our interim financial statements for more information. This amount has been excluded from our ANE measure. As a result of the change in ownership of Westinghouse when it was acquired by Cameco and Brookfield, Westinghouse's inventories at the acquisition date were revalued based on the market price at that date. As these quantities are sold, Westinghouse's cost of products and services sold reflect these market values, regardless of their historic costs. Our share of these costs is included in earnings from equity-accounted investees and recorded in cost of products and services sold in the investee information. Since this expense is non-cash, outside of the normal course of business and only occurred due to the change in ownership, we have excluded our share from our ANE measure. Westinghouse has also expensed some non-operating acquisition-related transition costs that the acquiring parties agreed to pay for, which resulted in a reduction in the purchase price paid. Our share of these costs is included in earnings from equity-accounted investees and recorded in other expenses in the investee information. Since this expense is outside of the normal course of business and only occurred due to the change in ownership, we have excluded our share from our ANE measure. To facilitate a better understanding of these measures, the table below reconciles adjusted net earnings with our net earnings for the second quarter and first six months of 2025 and compares it to the same periods in 2024. The following table shows what contributed to the change in adjusted net earnings (non-IFRS measure, see above) for the second quarter and first six months of 2025 compared to the same periods in 2024. ENDED JUNE 30 ENDED JUNE 30 ($ MILLIONS) IFRS ADJUSTED IFRS ADJUSTED Net earnings - 2024 36 65 29 111 Change in gross profit by segment (We calculate gross profit by deducting from revenue the cost of products and services sold, and depreciation and amortization (D&A), net of hedging benefits) Uranium Impact from sales volume changes 57 57 50 50 Higher realized prices ($US) 11 11 55 55 Foreign exchange impact on realized prices 24 24 61 61 Higher costs (19 ) (19 ) (59 ) (58 ) Change – uranium 73 73 107 108 Fuel services Impact from sales volume changes 16 16 27 27 Higher (lower) realized prices ($Cdn) (14 ) (14 ) 6 6 Lower costs 7 7 26 26 Change – fuel services 9 9 59 59 Other changes Higher administration expenditures (30 ) (6 ) (29 ) (16 ) Lower exploration and research and development expenditures 6 6 - - Change in reclamation provisions 8 2 (11 ) (1 ) Higher earnings from equity-accounted investees 187 184 207 163 Change in gains or losses on derivatives 167 (10 ) 199 (23 ) Change in foreign exchange gains or losses (94 ) (16 ) (112 ) (20 ) Lower finance income (3 ) (3 ) (5 ) (5 ) Lower finance costs 16 16 25 25 Change in income tax recovery or expense (53 ) (11 ) (75 ) (20 ) Other (1 ) (1 ) (3 ) (3 ) Net earnings - 2025 321 308 391 378 Expand EBITDA EBITDA is defined as net earnings attributable to equity holders, adjusted for the costs related to the impact of the company's capital and tax structure including depreciation and amortization, finance income, finance costs (including accretion) and income taxes. Included in EBITDA is our share of equity-accounted investees. ADJUSTED EBITDA Adjusted EBITDA is defined as EBITDA, as further adjusted for the impact of certain costs or benefits incurred in the period which are either not indicative of the underlying business performance or that impact the ability to assess the operating performance of the business. These adjustments include the amounts noted in the ANE definition. In calculating adjusted EBITDA, we also adjust for items included in the results of our equity-accounted investees that are not adjustments to arrive at our ANE measure. These items are reported as part of other expenses within the investee financial information and are not representative of the underlying operations. These primarily include transaction, integration and restructuring costs related to acquisitions. The company may realize similar gains or incur similar expenditures in the future. ADJUSTED EBITDA MARGIN Adjusted EBITDA margin is defined as adjusted EBITDA divided by revenue for the appropriate period. EBITDA, adjusted EBITDA and adjusted EBITDA margin are non-IFRS measures which allow us and other users to assess results of operations from a management perspective without regard for our capital structure. To facilitate a better understanding of these measures, the tables below reconcile net earnings with EBITDA and adjusted EBITDA for the second quarter and first six months of 2025 and 2024. For the quarter ended June 30, 2025: Net earnings (loss) before income taxes 2 281 44 126 (130 ) 321 Depreciation and amortization 71 13 - 2 86 Finance income - - - (5 ) (5 ) Finance costs - - - 27 27 Income taxes - - - 71 71 352 57 126 (35 ) 500 Adjustments on equity investees Depreciation and amortization 4 - 95 - 99 Finance income (1 ) - (1 ) - (2 ) Finance expense - - 51 - 51 Income taxes 7 - 46 - 53 Net adjustments on equity investees 10 - 191 - 201 EBITDA 362 57 317 (35 ) 701 Loss on derivatives - - - (163 ) (163 ) Other operating income (8 ) - - - (8 ) Share-based compensation - - - 39 39 Unrealized foreign exchange losses - - - 71 71 354 57 317 (88 ) 640 Adjustments on equity investees Inventory purchase accounting - - 5 - 5 Restructuring costs - - 14 - 14 Other expenses - - 16 - 16 Unrealized foreign exchange gains (2 ) - - - (2 ) Net adjustments on equity investees (2 ) - 35 - 33 Adjusted EBITDA 352 57 352 (88 ) 673 1 JV Inkai adjusted EBITDA of $70 million is included in the uranium segment. 2 Westinghouse earnings are after income taxes. Expand For the quarter ended June 30, 2024: FUEL Net earnings (loss) before income taxes 2 192 33 (47 ) (142 ) 36 Depreciation and amortization 52 9 - 1 62 Finance income - - - (8 ) (8 ) Finance costs - - - 43 43 Income taxes - - - 18 18 244 42 (47 ) (88 ) 151 Adjustments on equity investees Depreciation and amortization 2 - 89 - 91 Finance income - - (1 ) - (1 ) Finance expense - - 54 - 54 Income taxes 4 - (11 ) - (7 ) Net adjustments on equity investees 6 - 131 - 137 EBITDA 250 42 84 (88 ) 288 Gain on derivatives - - - 14 14 Other operating income (2 ) - - - (2 ) Share-based compensation - - - 15 15 Unrealized foreign exchange gains - - - (7 ) (7 ) 248 42 84 (66 ) 308 Adjustments on equity investees Acquisition-related transition costs - - 6 - 6 Inventory purchase accounting - - 17 - 17 Restructuring costs - - 11 - 11 Other expenses - - 3 - 3 Unrealized foreign exchange gains (2 ) - - - (2 ) Net adjustments on equity investees (2 ) - 37 - 35 Adjusted EBITDA 246 42 121 (66 ) 343 1 JV Inkai adjusted EBITDA of $52 million is included in the uranium segment. 2 Westinghouse earnings are after income taxes. Expand For the six months ended June 30, 2025: FUEL Net earnings (loss) before income taxes 2 509 112 64 (294 ) 391 Depreciation and amortization 123 20 - 4 147 Finance income - - - (9 ) (9 ) Finance costs - - - 57 57 Income taxes - - - 124 124 632 132 64 (118 ) 710 Adjustments on equity investees Depreciation and amortization 4 - 192 - 196 Finance income (1 ) - (1 ) - (2 ) Finance expense - - 100 - 100 Income taxes 8 - 29 - 37 Net adjustments on equity investees 11 - 320 - 331 EBITDA 643 132 384 (118 ) 1,041 Loss on derivatives - - - (175 ) (175 ) Other operating income (7 ) - - - (7 ) Share-based compensation - - - 37 37 Unrealized foreign exchange losses - - - 67 67 636 132 384 (189 ) 963 Adjustments on equity investees Inventory purchase accounting - - 5 - 5 Restructuring costs - - 26 - 26 Other expenses - - 30 - 30 Unrealized foreign exchange losses 5 - - - 5 Net adjustments on equity investees 5 - 61 - 66 Adjusted EBITDA 641 132 445 (189 ) 1,029 1 JV Inkai adjusted EBITDA of $114 million is included in the uranium segment. 2 Westinghouse earnings are after income taxes. Expand For the six months ended June 30, 2024: FUEL Net earnings (loss) before income taxes 2 445 53 (170 ) (299 ) 29 Depreciation and amortization 88 14 - 2 104 Finance income - - - (14 ) (14 ) Finance costs - - - 82 82 Income taxes - - - 49 49 533 67 (170 ) (180 ) 250 Adjustments on equity investees Depreciation and amortization 10 - 173 - 183 Finance income - - (3 ) - (3 ) Finance expense - - 118 - 118 Income taxes 24 - (48 ) - (24 ) Net adjustments on equity investees 34 - 240 - 274 EBITDA 567 67 70 (180 ) 524 Gain on derivatives - - - 47 47 Other operating income (17 ) - - - (17 ) Share-based compensation - - - 23 23 Unrealized foreign exchange gains - - - (25 ) (25 ) 550 67 70 (135 ) 552 Adjustments on equity investees Acquisition-related transition costs - - 24 - 24 Inventory purchase accounting - - 66 - 66 Restructuring costs - - 22 - 22 Other expenses - - 15 - 15 Unrealized foreign exchange gains (2 ) - - - (2 ) Net adjustments on equity investees (2 ) - 127 - 125 Adjusted EBITDA 548 67 197 (135 ) 677 1 JV Inkai adjusted EBITDA of $52 million is included in the uranium segment. 2 Westinghouse earnings are after income taxes. Expand CASH COST PER POUND, NON-CASH COST PER POUND AND TOTAL COST PER POUND FOR PRODUCED AND PURCHASED URANIUM Cash cost per pound, non-cash cost per pound and total cost per pound for produced and purchased uranium are non-IFRS measures. We use these measures in our assessment of the performance of our uranium business. These measures are not necessarily indicative of operating profit or cash flow from operations as determined under IFRS. To facilitate a better understanding of these measures, the table below reconciles these measures to cost of product sold and depreciation and amortization for the second quarter and first six months of 2025 and 2024. THREE MONTHS SIX MONTHS ENDED JUNE 30 ENDED JUNE 30 ($ MILLIONS) 2025 2024 2025 2024 Cost of product sold 417.1 284.7 781.1 640.5 Add / (subtract) Royalties (56.4 ) (32.2 ) (93.8 ) (50.0 ) Care and maintenance costs 1 (26.2 ) (11.7 ) (39.8 ) (23.8 ) Other selling costs (2.8 ) (4.5 ) (6.3 ) (9.4 ) Change in inventories (143.3 ) 69.6 (191.1 ) 99.8 Cash costs of production (a) 188.4 305.9 450.1 657.1 Add / (subtract) Depreciation and amortization 71.3 51.5 122.8 88.2 Care and maintenance costs 1 (1.6 ) (0.2 ) (1.7 ) (0.4 ) Change in inventories (16.1 ) 13.3 (5.6 ) 33.6 Total production costs (b) 242.0 370.5 565.6 778.5 Uranium produced & purchased (million lb) (c) 5.3 8.8 12.5 17.3 Cash costs per pound (a ÷ c) 35.55 34.76 36.01 37.98 Total costs per pound (b ÷ c) 45.66 42.10 45.25 45.00 1 Care and maintenance costs include costs associated with Rabbit Lake and the US operations, as well as the annual maintenance shutdown at Key Lake mill which were expensed directly to cost of sales in the quarter. In 2024, the shutdown occurred in the third quarter. Expand Management's discussion and analysis (MD&A) and financial statements The second quarter MD&A and unaudited condensed consolidated interim financial statements provide a detailed explanation of our operating results for the three and six months ended June 30, 2025, as compared to the same periods last year. This news release should be read in conjunction with these documents, as well as our audited consolidated financial statements and notes for the year ended December 31, 2024, first quarter and annual MD&A, 2025 first quarter and our most recent annual information form, all of which are available on our website at on SEDAR+ at and on EDGAR at Qualified persons The technical and scientific information discussed in this document for our material properties McArthur River/Key Lake, Cigar Lake and Inkai was approved by the following individuals who are qualified persons for the purposes of NI 43-101: MCARTHUR RIVER/KEY LAKE Greg Murdock, general manager, McArthur River, Cameco Daley McIntyre, general manager, Key Lake, Cameco CIGAR LAKE Kirk Lamont, general manager, Cigar Lake, Cameco INKAI Sergey Ivanov, deputy director general, technical services, Cameco Kazakhstan LLP Caution about forward-looking information This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include: our perception of the constructive outlook for nuclear power and its impact on our 2025 expectations; our view that nuclear energy is on the critical path to addressing global energy security, national security and climate security; our expectation that our long-term contracts will protect us from weaker market conditions while retaining our exposure to the price improvements needed to support investments in future supply, ensuring the timing of our supply is aligned with market demand; our belief that maintaining a strong balance sheet and having financial discipline will allow us to confidently make deliberate value-adding investments as the market evolves; our view that the Dukovany power plant project reflects the growing support for nuclear power, and that such support which will have a positive impact on our uranium and fuel services businesses while creating significant future growth opportunities for Westinghouse; our view that the continued support visible in government policies, energy-intensive industries and public discourse reflects that nuclear energy is a critical solution for providing clean, constant, secure and reliable power, and that Cameco and Westinghouse are uniquely positioned to contribute to this future; our 2025 outlook for our uranium and fuel services segments; our expectations regarding our share of Westinghouse's adjusted EBITDA and net earnings for 2025; our expectations regarding Westinghouse's participation in the Dukovany power plant project and the associated increase in revenue; Westinghouse's expected adjusted EBITDA growth rate over the next five years; our expectations regarding production levels and deliveries from JV Inkai; our expectations regarding our long-term contract portfolio and uranium commitment levels; our intention to broaden the ratings coverage on our debt and provide for future flexibility by obtaining a public issuer rating from Moody's; our expectation that we will realize the benefit for JV Inkai's 2025 financial performance in 2026 once the dividend for 2025 is declared and paid; and the expected date of the announcement of our 2025 third quarter results. Material risks that could lead to different results include: unexpected changes in uranium supply, demand, long-term contracting, and prices; changes in consumer demand for nuclear power and uranium as a result of changing societal views and objectives regarding nuclear power, electrification and decarbonization; the risk that our views regarding nuclear power, its growth profile, and benefits, may prove to be incorrect; the risk that we may not be able to achieve planned production levels within the expected timeframes, or that the costs involved in doing so exceed our expectations; risks related to JV Inkai's development or production, including the risk that JV Inkai is unable to transport and deliver its production; risks to Westinghouse's business associated with potential production disruptions, the implementation of its business objectives, compliance with licensing or quality assurance requirements, or that it may otherwise be unable to achieve expected growth; the risk that we may not be able to meet sales commitments for any reason; the risks to our business associated with potential production disruptions, including those related to global supply chain disruptions, global economic uncertainty, political volatility, labour relations issues, and operating risks; the risk that we may not be able to implement our business objectives in a manner consistent with our environmental, social, governance and other values; the risk that the strategy we are pursuing may prove unsuccessful, or that we may not be able to execute it successfully; the risk that Westinghouse may not be able to implement its business objectives in a manner consistent with its or our environmental, social, governance and other values; the risk that we are adversely affected by the imposition of tariffs on Canadian energy products; the risk that the Dukovany power plant project does not result in the expected financial benefits for Westinghouse; and the risk that we may be delayed in announcing our future financial results. In presenting the forward-looking information, we have made material assumptions which may prove incorrect about: uranium demand, supply, consumption, long-term contracting, growth in the demand for and global public acceptance of nuclear energy, and prices; our production, purchases, sales, deliveries and costs; the market conditions and other factors upon which we have based our future plans and forecasts; our contract pipeline discussions; JV Inkai production and our allocation of planned production and timing of deliveries; assumptions about Westinghouse's production, purchases, sales, deliveries and costs, the absence of business disruptions, and the success of its plans and strategies; the success of our plans and strategies, including planned production; the absence of new and adverse government regulations, policies or decisions; that there will not be any significant adverse consequences to our business resulting from production disruptions, including those relating to supply disruptions, economic or political uncertainty and volatility, labour relations issues, aging infrastructure, and operating risks; the assumptions relating to Westinghouse's adjusted EBITDA and net income; the assumption that we would not be adversely affected by the imposition of tariffs on Canadian energy products; the financial benefits of the Dukovany power plant project for Westinghouse; and our ability to announce future financial results when expected. Please also review the discussion in our 2024 annual MD&A, our 2025 first quarter MD&A and our most recent annual information form for other material risks that could cause actual results to differ significantly from our current expectations, and other material assumptions we have made. Forward-looking information is designed to help you understand management's current views of our near-term and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws. Conference call We invite you to join our second quarter conference call on Thursday, July 31, 2025, at 8:00 a.m. Eastern. The call will be open to all investors and the media. To join the call, please dial please dial (833) 821-3311 (Canada and US) or (647) 846-2607. An operator will put your call through. The slides and a live webcast of the conference call will be available from a link at See the link on our home page on the day of the call. A recorded version of the proceedings will be available: on our website, shortly after the call on post view until midnight, Eastern, August 31, 2025, by calling (855) 669-9658 (Canada/ USA toll-free) or (412) 317-0088 (International toll) (Passcode 3789618) 2025 third quarter report release date We plan to announce our 2025 third quarter results before markets open on Wednesday, November 5, 2025. Profile Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada. As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.
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2 days ago
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Toyota to Build EVs in Czech Republic by 2028
Toyota (NYSE:TM) will start building electric vehicles in Europe at a new Czech plant by 2028. It plans to churn out about 100K EVs a year at its Czech subsidiary, including a new electric SUV. The automaker wants to launch 14 battery?electric models across Europe by 2026 from a revamped C?HR+ SUV to an updated bZ4Xand hit carbon neutrality in the region by 2035. Right now, EVs account for under 2% of Toyota's global sales, so local assembly is a big shift in strategy. Warning! GuruFocus has detected 3 Warning Sign with TM. Through June, EU registrations for battery?electric cars topped 869,271 units, or 15.6% of the market. Germany led with a 35.1% surge, Belgium was up 19.5% and the Netherlands rose 6.1%, while France dipped 6.4%. Making cars in Europe could help Toyota cut logistics costs, sidestep import duties and respond faster as legacy brands and startups ramp up EV offerings. European?built EVs position Toyota to capture market share in the continent's fastest?growing segment and protect margins. Investors will look to Toyota's roll?out of 14 EV models by 2026 and the first Czech?built units in 2028 for clues on capital spending and profit impact. This article first appeared on GuruFocus.
