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Toyota's strong sales and electric plans drive shares to record high

Automaker's stock price rises 3% while market cap tops 2007 peak

Investors have welcomed the Japanese automaker's bullish sales forecast and its ability to weather the global chip shortage.   © Reuters

TOKYO -- Toyota Motor's stock price jumped 3.4% to close at 9,423 yen on the Tokyo market on Tuesday, reaching its highest-ever level.

Shares in the Japanese automaker have climbed rapidly since mid-May as investors welcome its bullish sales forecast and ability to weather the global chip shortage thanks to its supply chain management.

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