NOVEMBERASIA BUSINESS OUTLOOK9The upcoming model of the Toyota Camry, which is the top-selling sedan in the U.S. The Japanese automaker is making its boldest move yet by introducing a gas-electric hybrid powertrain to the market, aiming to push hybrid technology into the heart of the U.S. Toyota announced that the 2025 Camry will feature a 2.5-liter gasoline engine paired with an electric drive system designed to provide increased power for both front-wheel drive and all-wheel drive models.Complying with stricter U.S. According to David Christ, head of the Toyota brand in North America, the decision to produce the new Camry as an all-hybrid vehicle line was influenced by fuel economy regulations. This resulted in the discontinuation of the four- and six-cylinder combustion models, which accounted for approximately 85 percent of sales in the current model year. He stated that another reason for the decision was "the results we were able to achieve with the hybrid."While Toyota has accelerated the development of electric-vehicle technology, it is still betting that demand for hybrids and plug-in hybrids will remain robust as the automaker takes a "multi-pathway" approach, seeking to satisfy customer needs in every market.The hybrid powertrain and a new electronic all-wheel-drive system deliver 232 combined horsepower ­ nearly 15 percent more than the outgoing Camry with a mechanical all-wheel drive system, Toyota said. A European business lobby group said on Wednesday that European firms "urgently" need China to provide clearer definitions of key terms in its cross-border data transfer rules, and that firms risk wasting millions of euros storing non-sensitive data in China. The European Chamber of Commerce in China urged authorities to "provide precise definitions for both "important data" and "personal information" as outlined in their rules, as well as to finalise a proposed relaxation of certain aspects of regulations announced in September as soon as possible.The world's second-largest economy has tightened its data laws in recent years in response to President Xi Jinping's increased emphasis on national security, and foreign firms are concerned that the lack of clarity will stymie them."Many of the laws, guidelines and measures lack specificity, which poses serious operational and compliance challenges to European companies operating in China," the report read, adding requirements like "regulatory security assessment thresholds" were too low, "especially for larger multinational companies."Fears among foreign investors in China have increased in the last year as a result of a series of corporate raids, primarily on consultancies and due diligence firms.The chamber's report echoes recent comments from a European Commission official, who stated in September that European businesses were particularly concerned about China's data laws' lack of clarity. TOYOTA VENTURES INTO HYBRID AUTOMOBILE MARKET WITH LATEST LAUNCHEU FIRMS REQUEST CHINA TO GIVE CLARITY ON CROSS BORDER DATA LAWSNEWSROOM
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