Apple Inc. is a publicly traded company with ticker AAPL. As of February 2021, the company's share price was 1.37%.

As electrification increasingly takes over the auto industry, even the most niche vehicles are being affected.

Motor Corp. Chief Executive Akio Toyoda has said that he would hand the keys to a younger executive who he believes might have new ideas about the future of electric vehicles.

After Elon Musk struck an upbeat tone about demand for the company’s vehicles and its ability to navigate a potential economic downturn, shares rallied.

Motor Corp. announced Thursday that Akio Toyoda, who has been CEO since 2009, will step down from his current roles and become chairman in April. Toyoda is a member of the founding family of the company.