Toyota president criticises Tesla recipe, but it lacks " authentic cuisine and a real chef": If running a car company is equivalent to running a restaurant, Toyota has a whole business while Tesla is simply a cook with some recipes, according to the president of the Japanese firm.
Akio Toyoda, grandson of the automaker's founder, made the comparison during Toyota's second-quarter financial presentation last Friday, while talking about plans to electrify its entire vehicle range.
"What we have and what Tesla does not have are units in operation: more than 100 million vehicles worldwide," he said, before launching into the simile of food services.
"The Tesla business, if I may say so, is a business is like a... you can use the analogy of cooking and a chef, I think, " he continued. "The kitchen and the chef, they have not created a real business yet or a real market yet, but they are trying to market the recipes. And the chef is saying, ' Look, our recipe will become the world standard in the future.' I think that's the kind of business they have."
Toyota, on the other hand, has "a real kitchen" and also a "real chef," Toyoda said, a claim that is reinforced by the company's doubling of profit prospects for this year. For comparison, Tesla says it will manufacture 500,000 cars this year, while Toyota's annual sales topped 10 million worldwide in 2019. Tesla also has not yet managed to generate profits in a year.
Toyota president criticises Tesla recipe
Despite the discrepancy in sales, Tesla has achieved a valuein the bag almost twice as much as Toyota. That doesn't mean a defeat for Toyoda.
"And of course, looking at the current share price, we are losing against their valuation," he said. "But when it comes to products, we have a complete menu that will be chosen by customers."
Beyond Toyota, a large number of traditional car manufacturers have gradually begun to bet on the development of electric vehicles. This is the case with Germany's Volkswagen, whose executives have also spoken openly about Tesla's leadership in the industry.
Toyota president criticises Tesla recipe
Here are the dates and deadlines for Pfizer's coronavirus vaccine: when it will reach the public and what options are there for it to be used in Spain
This Monday the first and promising results of Pfizer's experimental coronavirus vaccine in the last phase of its clinical trial have been known, showing a 90% effectiveness in the Prevention of covid-19 infections.
Undoubtedly the news represents a decisive step to curb the coronavirus pandemic at a time when the number of confirmed cases worldwide exceeds 50 million.
Successfully developing a vaccine in less than a year is an unprecedented historical milestone in the history of medicine, since it is normal for this procedure to last for 10 years or even more.
But while there is reason for hope, the fact that a vaccine candidate has proven its effectiveness does not mean that it will be given to people in a matter of days.
What was announced this Monday by the pharmaceutical giant are the first results obtained after analyzing the thousands of volunteers who received the two doses of the vaccine. But still the company needs to collect more data.
In fact, there is no long-term follow-up data available on people who received the vaccine. That means the answers to critical questions about the durability of vaccine protection as well as the risk of any long-term side effects remain unknown.
Therefore, the study will continue to address those questions.
In addition, the results of all these studies must be analyzed and reviewed by the regulatory bodies of the various countries before the vaccine gets authorization to be marketed.
Below, you can see the timeline on upcoming vaccine procedures going forward and how long it could take for it to reach the public:
- The pharmaceutical company Pfizer has assured this Monday that its vaccine has managed to be 90% effective when it comes to preventing covid-19 infections. But to prove that it is safe you need to gather more information. The data— laboratories should follow the evolution of volunteers up to two months after receiving the last dose puncture-could be ready by November 16, according to their estimates.
- In turn, the American pharmacist plans to apply for an emergency use authorization from the US Food and Drug Administration (FDA). The agency must decide whether or not to grant approval. There is no exact timeframe, but the US agency has advanced that it could grant authorization within 24 hours once efficacy is verified in the final phase of the trials.
- From there will come the logistical challenge. Gus Perna, chief of operations of Operation Warp Speed designed to distribute the coronavirus vaccine, assured this Sunday that the vaccines will be distributed within 24 hours once it has received the green light from the FDA.
- As for Europe, at the end of March Pfizer stated during the investor presentation that "deliveries would begin at the end of 2020, subject to clinical success and regulatory authorization", as it collects five days.
- Similar to what happens with the FDA in the US, in Europe the European Medicines Agency (EMA) reviews vaccines for use in the European Union. "Marketing authorisation will only be granted if the benefit-risk balance is positive after an assessment of the quality safety and efficacy of the product", as the body points out, something that is also expected to take some time.
- On the other hand, the drug manufacturer assured that the doses that could be administered this year would reach the maximum of 50 million for the whole world.
- If you take into account that the vaccine designed by Pfizer requires 2 doses for its effectiveness, the estimated 50 million for this year are reduced to an amount valid only for 25 million people.
- The vaccine from BioNTech and Pfizer is not the only one being developed in the face of COVID-19. The AstraZeneca candidate developed by the University of Oxford is another of the big bets, which could reach our country even earlier. According to the minister of Health, Salvador Illa, Spain has agreed to have by the end of the year with 3 million doses of the total of 31.5 million that correspond to our country for the contracts signed by the European Commission.
- Europe reached an initial agreement with Pfizer to secure 200 million doses of its vaccine, plus an option on another 100 million complementary. The negotiation is advanced, but it is not yet closed: there could be an official announcement in the coming days.
- Predictably, when the first coronavirus vaccine succeeds in being commercialized, a certain part of the population, such as medical personnel and risk groups, will be vaccinated first.
- According to the EU guidelines, All Member States will have equal access to the available doses and it will be up to each of them to decide who to offer vaccines to among their population.
- Experts estimate that it will be from 2021 when the largest amount of doses of the possible vaccine against the coronavirus will arrive (about 1,300 million), at which time most citizens will begin to receive them.