(Updates with Toyota's response in the third paragraph.)

Toyota Motor (TM) will partially cover losses worth "tens of billions of yen" for suppliers affected by its decision to cancel the development of an electric vehicle, Nikkei Asia reported Wednesday.

The cancellation of Lexus' LF-ZC sedan has hurt the company's supply chain, with some suppliers likely facing losses of up to 10 billion Japanese yen ($61.5 million), according to the report.

"Since the circumstances vary from supplier to supplier we will communicate with them individually," Toyota told MT Newswires in an emailed statement Monday.

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