As global demand for electric vehicles (EV) exponentially grows as outlined in Australia's Future Fuels and Vehicles strategy. It highlights the importance of EVs and recognises that it will reshape the way Australians drive. Tesla and Battery - Electric Vehicles (BEV) seem to be the front running solution; however, one the world's largest car manufacturers are opting for an alternative strategy. Toyota is the pioneer of the hydrogen fuel cell technology and is continuing development, in-spite of the expansion of BEV's and its infrastructure. Toyota is no stranger to divergent strategies as it aims to replicate its previous success from introducing hybrid technologies with the introduction of the Prius in 1997. Toyota strongly believe hydrogen fuel technology is a sustainable alternative, even though many other automakers have abandoned hydrogen fuel cell cars to focus on the production of BEVs. The primary drawbacks concern, hydrogen's efficiency, price, complexity, and lack of penetration in global markets, which has an influence on the infrastructure required to operate the hydrogen fuel cell motor vehicle. However, that hasn't stopped Toyota and has announced testing hydrogen combustion engines in race cars. This announcement is alongside the relaunch of its Mirai Sedan, which is Hydrogen fuel cell motor vehicle which has a range of up to 850 kilometres (kms) per charge. Further, the company plans to launch hydrogen-powered models for the Prius and Corolla in 2023. Toyota also recognises the need for commercial transport, such as van, buses, and trucks. Toyota has been busy forming partnerships with bus manufacturers in several European countries to explore the development of hydrogen-based transportation. In July 2022, Toyota became part of the Commercial Japan Partnerships Technology Corporation (CJPT). Where, Isuzu, Toyota and Hino have announced plans of jointly developing hydrogen full cell light trucks. This truck range is forecast to be available in late 2023/2024. Toyota are betting big on Hydrogen fuel cell and is part of their long-term growth plans, the company has invested a lot of time and money in the development of this technology. However, to realise its apparent potential more resources are required to enable the company's transition and restructure. If this technology is successful Toyota would emerge as the ultimate winner in the battle for the leadership in sustainable transportation technology. INSTRUCTIONS: a) Based on the information above, identify the most appropriate lifecycle stage that this organisation is in. Provide evidence from the case to justify the choice of lifecycle stage. (3 Marks) b) i) To commence manufacturing the organisation requires financing. Which form of financing would be more appropriate for this organisatior - debt or equity? Justify your answer and identify an appropriate supplier of funds. ( 3 Marks) ii) Outline 2 key business risks that the organisation currently faces and how these risks influence the type of finance the organisation can acquire. (4 Marks) (Note your answers should make use of the specific situation described above. The more of the information you can use to support your arguments the better. You may make additional assumptions to bolster your arguments if you clearly state them if they fill a gap in the text above. Suggested length: approximately half a page single spaced; use full sentences.) As global demand for electric vehicles (EV) exponentially grows as outlined in Australia's Future Fuels and Vehicles strategy. It highlights the importance of EVs and recognises that it will reshape the way Australians drive. Tesla and Battery - Electric Vehicles (BEV) seem to be the front running solution; however, one the world's largest car manufacturers are opting for an alternative strategy. Toyota is the pioneer of the hydrogen fuel cell technology and is continuing development, in-spite of the expansion of BEV's and its infrastructure. Toyota is no stranger to divergent strategies as it aims to replicate its previous success from introducing hybrid technologies with the introduction of the Prius in 1997. Toyota strongly believe hydrogen fuel technology is a sustainable alternative, even though many other automakers have abandoned hydrogen fuel cell cars to focus on the production of BEVs. The primary drawbacks concern, hydrogen's efficiency, price, complexity, and lack of penetration in global markets, which has an influence on the infrastructure required to operate the hydrogen fuel cell motor vehicle. However, that hasn't stopped Toyota and has announced testing hydrogen combustion engines in race cars. This announcement is alongside the relaunch of its Mirai Sedan, which is Hydrogen fuel cell motor vehicle which has a range of up to 850 kilometres (kms) per charge. Further, the company plans to launch hydrogen-powered models for the Prius and Corolla in 2023. Toyota also recognises the need for commercial transport, such as van, buses, and trucks. Toyota has been busy forming partnerships with bus manufacturers in several European countries to explore the development of hydrogen-based transportation. In July 2022, Toyota became part of the Commercial Japan Partnerships Technology Corporation (CJPT). Where, Isuzu, Toyota and Hino have announced plans of jointly developing hydrogen full cell light trucks. This truck range is forecast to be available in late 2023/2024. Toyota are betting big on Hydrogen fuel cell and is part of their long-term growth plans, the company has invested a lot of time and money in the development of this technology. However, to realise its apparent potential more resources are required to enable the company's transition and restructure. If this technology is successful Toyota would emerge as the ultimate winner in the battle for the leadership in sustainable transportation technology. INSTRUCTIONS: a) Based on the information above, identify the most appropriate lifecycle stage that this organisation is in. Provide evidence from the case to justify the choice of lifecycle stage. (3 Marks) b) i) To commence manufacturing the organisation requires financing. Which form of financing would be more appropriate for this organisatior - debt or equity? Justify your answer and identify an appropriate supplier of funds. ( 3 Marks) ii) Outline 2 key business risks that the organisation currently faces and how these risks influence the type of finance the organisation can acquire. (4 Marks) (Note your answers should make use of the specific situation described above. The more of the information you can use to support your arguments the better. You may make additional assumptions to bolster your arguments if you clearly state them if they fill a gap in the text above. Suggested length: approximately half a page single spaced; use full sentences.)