He’s overrated and doesn’t compare to us!

At a time when Tesla’s share continues to rise, with a market cap approaching $ 400 billion, Akio Toyoda, chairman of Toyota Corporation in Japan, is overvalued, topping the valuations of all seven Japanese automakers combined.

“Toyota” can learn from Tesla’s success with investors and its business model, which includes revenue from electric cars, credit, software and renewable energy products, he said at a conference telephone with journalists.

Toyoda acknowledged Tesla’s success, but said, “Its valuation and market price does not reflect the scale of its business in the ‘real world’, nor does it compare Toyota’s manufacturing and full-scale sales.

The CEO of “Toyota” likened “Tesla” to a restaurant always in search of its recipes, at a time when Toyota already serves a large number of customers.

He referred to around 100 million cars already in circulation by Toyota customers and on track to produce 7.5 million cars in the fiscal year ending March 2021.

Japanese company “Toyota” expects to sell around 7.5 million cars, with operating income of 1.3 trillion yen (equivalent to $ 12.6 billion), during the fiscal year ending in March 2021, while Tesla plans to sell 500 thousand electric cars in 2020.

Toyoda described Toyota’s products in the full menu, referring to his company’s mix of cars with internal combustion engines, hybrids, fully electric cars, and gasoline-powered electric cars.

But Toyota did not seek to make full-size pure electric cars until late last year, when it announced a joint venture with China’s BYD (the world’s biggest competitor to “Tesla” ).

Although Toyota’s profits fell in the last quarter of this year, the company saw a sales rebound 3% above the global carmaker average, after the Corona outbreak slashed sales in China during of the first semester of 2020.