Akio Toyoda

Toyota's chairman said Tuesday he was "ashamed" of recent scandals involving subsidiaries of the Japanese auto giant, as the firm announced record vehicle sales of 11.2 million across its brands last year.

Toyota named Koji Sato president and CEO on Jan. 26, in a surprise reshuffle that sees third-generation chief executive Akio Toyoda step aside to become board chairman of the world's top-selling automaker.

The Japanese automaker said Sato, 53, would also become operating officer when the changes to its executive structure take effect on April 1.

Toyota has announced plans to build a prototype of the city of the future near Japan's Fuji Mountain, DPA reported.

The city will be powered by hydrogen cells and will act as a laboratory for autonomous vehicles, smart homes, artificial intelligence and other technologies.

Toyota unveiled a plan for the Consumer Electronics Show in Las Vegas.

Toyota has announced plans to build a prototype of the city of the future near Japan's Fuji Mountain, DPA reported.

The city will be powered by hydrogen cells and will act as a laboratory for autonomous vehicles, smart homes, artificial intelligence and other technologies.

Toyota unveiled a plan for the Consumer Electronics Show in Las Vegas.

Toyota Motor Corp  is establishing a new venture to develop electric vehicle technology with partner Mazda Motor Corp , seeking to catch up with rivals in an increasingly frenetic race to produce more battery-powered cars, Reuters reported. 

Japanese auto giant Toyota and smaller rival Mazda said on Aug. 4 that they agreed a capital tie-up to focus on joint development of electric vehicles, while building a $1.6 billion factory in the United States which will create up to 4,000 jobs.

The move comes as the automotive industry is faced with a major shift towards greener transport and greater use of information technology.

Toyota lost its crown as the world's top-selling automaker in 2016, company figures showed on Jan. 30, with the Japanese giant overtaken by Volkswagen as the industry prepares for an uncertain trade environment under U.S. President Donald Trump.

The German automaker moved back into the top spot despite being hit by a massive emissions cheating scandal that rocked its reputation.